A major US labor federation has raised alarms over the CLARITY Act, warning that its stablecoin provisions could open the door to crypto exposure inside workers' retirement accounts. The opposition adds institutional weight to a legislative fight that was already heating up on Capitol Hill.
The bill is now facing more than 100 amendments as the banking industry mounts a parallel offensive — over 8,000 demand letters sent by bankers targeting the stablecoin yield provisions specifically. On the other side, crypto advocates have mobilized roughly 300,000 emails to counter the banking campaign and preserve the yield-bearing stablecoin language.
The standoff puts the CLARITY Act at the center of two converging battles: one over whether stablecoins can legally offer yield, and a second over how much crypto risk is appropriate inside tax-advantaged retirement vehicles. The outcome will set…
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