American Teachers Push to Kill Crypto Bill — Here's Why

Key Takeaways

The American Teachers Union has raised concerns about the Market Structure bill, arguing that it poses significant risks to financial stability. The union highlighted the absence of safeguards and the potential exposure to non-secure companies and digital assets. Over the past six months, the bill has undergone several revisions, with a Senate vote expected in early 2026.

The American Federation of Teachers (AFT) has written to the Senate, urging lawmakers to abandon the Responsible Financial Innovation Act. This legislation is commonly referred to as the Cryptocurrency Market Structure Act. It represents the U.S. Senate’s main legislative effort to establish a comprehensive federal regulatory framework for the cryptocurrency and digital asset markets.

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Why Are Teachers Against the Bill?

The AFT, representing over 1.7 million educators and school staff, sent a strongly worded letter to Senate leaders, including Majority Leader Chuck Schumer and Minority Leader Mitch McConnell, urging them to reject the bill entirely. The letter, authored by AFT President Randi Weingarten, claimed that the legislation poses serious risks to the pensions of working families and the overall economic stability.

According to Weingarten, the proposed law could expose pension funds—many of which invest in traditional securities on behalf of public employees and teachers—to “unsafe assets” and fraud within the unstable cryptocurrency market. She emphasized:

“Beyond the threat to the retirement security of working families, the legislation being considered by the committee does little to curb the illegal activity, fraud, and corruption that continues to be prevalent in anonymous crypto markets.”

She added:

“It is as irresponsible as it is reckless. We believe that if enacted, this bill has the potential to lay the groundwork for the next financial crisis.”

One of the AFT's primary concerns is that the bill would allow non-crypto companies to tokenize their stock on the blockchain, potentially bypassing established securities laws. This could circumvent requirements for registration, reporting, and intermediary regulation, limiting avenues for investor protection and regulatory accountability.

This demand aligns with the AFT’s long-standing advocacy for strong financial regulations, especially given that many of its members rely on public pension systems that invest in stock markets.

The Market Structure Bill Overview

The Market Structure bill is one of two key pieces of legislation proposed under the Donald Trump administration. The other major bill was the STABLE Act, which passed after multiple iterations.

The Market Structure bill offers clear regulations for jurisdictional clarity, operational frameworks, and tokenization of traditional assets. The proposed crypto market legislation has been in contentious negotiations for months, with the prospect of a Senate vote potentially pushed to 2026 amid divisions among crypto stakeholders over issues such as the treatment of decentralized finance (DeFi) and government access to peer-to-peer transactions.

Despite broad industry support for the legislation, some critics have pointed to the stripping away of key oversight mechanisms—potentially allowing companies to bypass standard SEC rules by shifting crypto assets to decentralized platforms. This could heighten systemic vulnerabilities, making it easier for bad actors to exploit gaps in regulation.

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