WASHINGTON – AFSCME President Patrick Moran released the following statement after the CLARITY Act failed to pass the Senate:
“This is a major victory for retirees and all working people who want to retire with dignity. The so-called CLARITY Act would have allowed Wall Street to gamble with workers’ pensions and 401(k)s by making it easier to invest their retirement savings in cryptocurrency. Working people do not want to see their hard-earned money put into an unregulated, unpredictable crypto casino. We thank the senators who saw through this corrupt con job and voted down this bill. During a time of so much financial uncertainty, we urge Congress to stay focused on bringing down costs and helping working families save for retirement – things they need. AFSCME members will continue to fight to ensure our retirement security won’t be threatened by crypto grifters.”