Puerto Rico is on the way to becoming the US capital of crypto investors
Industry News
Puerto Rico is the most crypto-favorable US territory, due to Act 22. According to this local act, US residents living in Puerto Rico for at least six months are not charged taxes related to crypto incomes. The law covers different categories of gains. Furthermore, a person is able to live in Puerto Rico, having US residency (there is no necessity to renounce the status).
As such, the territory is on the way to becoming the new center for North-American crypto investors. Pantera Capital, a hedge fund, and SuperRate, an NFT-marketplace, have already moved their headquarters to Puerto Rico, appreciating the expanded opportunities this location opens.
As for crypto business owners, the territory became a new home for Frances Haugen and Logan Paul.
The course towards crypto-friendliness is entirely supported by the local government, as crypto investments are going to push the Puerto Rican economy to new highs.
PRBTA, the local blockchain and trader association, aims to hold the first Blockchain Week in Puerto Rican history. The event is scheduled for December 2021, and the local community expects to attract more investments and top crypto personalities to move there.
Seeking answers or advice?
Share your queries in the form for personalized assistance
