SAB 121 House Joint Resolution
This bill is very pro-crypto.
voted against
Nydia Velázquez
Democratic Congressperson from New York, 7
Notable statements
Nydia Velázquez
@NydiaVelazquez
Act 60 has helped turn PR into a haven where crypto investors can skirt capital gains taxes while worsening inequality on the island.
This bill could exacerbate this trend.
We need stronger federal regulations for stablecoin issuers in high-risk areas.
elnuevodia.com/corresponsalia…
Neutral on crypto
Nydia Velázquez
@NydiaVelazquez
The GOP stablecoin bill allows each state and territory to create its own regulatory regime.
This could lead to abuse in places designated as high-intensity financial crime areas like Puerto Rico.
I appreciate Chair @PatrickMcHenry's commitment to work with me to fix this! pic.twitter.com/3tij4viC0U
Neutral on crypto
Nydia Velázquez
@NydiaVelazquez
For many years, wealthy Mainlanders have been legally allowed to establish themselves as Puerto Rican residents to avoid certain taxes which has made PR especially lucrative for cryptocurrency investors. Watch me question @USTreasury on this issue: pic.twitter.com/HZ7rtjilHu
Somewhat anti-crypto