Republican lawmakers in Congress are currently focused on extending the 2017 tax cuts and advancing other crypto-related bill

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Democratic lawmakers on Monday introduced a bill to block investors from using Puerto Rico as a cryptocurrency tax haven — a proposal unlikely to advance without Republican support and as Congress prioritizes extending the 2017 tax cuts.

It’s unclear whether the legislation proposed by Rep. Velazquez, a Democrat, would have enough political support to pass in the Republican-controlled House or Senate. Both chambers will likely consider floor votes for stablecoin legislation and a crypto regulatory framework in the coming months.