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Puerto Rico's Crypto Tax Haven Status Under Fire!
📉🏝️💸
A new bill — The Fair Taxation of Digital Assets in Puerto Rico Act — has been proposed by U.S. Rep. Nydia Velázquez to end Puerto Rico’s status as a crypto tax paradise. The bill aims to align PR’s tax laws with U.S. federal rules, making sure investors pay both local and federal taxes on capital gains — including from crypto.
🇵🇷⚖️
Under current Act 60, qualifying residents enjoy 0% capital gains tax — a major reason many crypto whales moved there. But critics argue the law mainly benefits the rich, inflates real estate prices, and displaces locals.
🏘️📈😕
Meanwhile, PR’s Governor wants to keep the incentives till 2055 but add a 4% capital gains tax, still way below the U.S. average (up to 37%).
🧾💼
If passed, this new law could shake up the island’s crypto scene and force big investors to rethink their strategy.
🚨⛔📉
What do you think — fair move or a blow to crypto innovation?
Drop your thoughts below!
#CryptoNews #PuertoRico #BinanceSquare #CryptoTax #Legislation
📉🏝️💸
A new bill — The Fair Taxation of Digital Assets in Puerto Rico Act — has been proposed by U.S. Rep. Nydia Velázquez to end Puerto Rico’s status as a crypto tax paradise. The bill aims to align PR’s tax laws with U.S. federal rules, making sure investors pay both local and federal taxes on capital gains — including from crypto.
🇵🇷⚖️
Under current Act 60, qualifying residents enjoy 0% capital gains tax — a major reason many crypto whales moved there. But critics argue the law mainly benefits the rich, inflates real estate prices, and displaces locals.
🏘️📈😕
Meanwhile, PR’s Governor wants to keep the incentives till 2055 but add a 4% capital gains tax, still way below the U.S. average (up to 37%).
🧾💼
If passed, this new law could shake up the island’s crypto scene and force big investors to rethink their strategy.
🚨⛔📉
What do you think — fair move or a blow to crypto innovation?
Drop your thoughts below!
#CryptoNews #PuertoRico #BinanceSquare #CryptoTax #Legislation
🚨 Pakistan to Legalize Crypto - The News comes in just before US Elections 2024, are you ready for this ?
Stay ahead of the curve with the latest crypto news and market predictions for tomorrow.
Bitcoin news today: What’s driving the BTC price? Live updates on the market's movements.
Disclaimer: The opinion expressed here is not investment advice. I’m not a financial adviser. invest solely based on your own findings and personal judgment.
#USElections2024Countdown #NovemberMarketAnalysis #PakistanCrypto #legislation $BTC $BNB $ETH
Stay ahead of the curve with the latest crypto news and market predictions for tomorrow.
Bitcoin news today: What’s driving the BTC price? Live updates on the market's movements.
Disclaimer: The opinion expressed here is not investment advice. I’m not a financial adviser. invest solely based on your own findings and personal judgment.
#USElections2024Countdown #NovemberMarketAnalysis #PakistanCrypto #legislation $BTC $BNB $ETH
🚨🇺🇸 NORTH CAROLINA'S BITCOIN BILL – A LEGAL PAYMENT REVOLUTION?
New Bill Introduced: The North Carolina Digital Asset Freedom Act proposes recognizing Bitcoin-like assets as legal payment within the state.
Strict Criteria: To qualify, digital assets must:
Use Proof-of-Work consensus.
Have a capped supply.
🔹Exceed $750 billion in market cap — effectively pointing to Bitcoin only.
🔹Following CBDC Ban: This follows North Carolina’s 2024 ban on Central Bank Digital Currencies, showing a clear pro-Bitcoin stance.
Potential Benefits:
🔹Boost economic innovation and investment.
🔹Increase financial inclusion for unbanked communities.
🔹Lower transaction fees, improve privacy, and enable tax payments in Bitcoin.
Challenges Ahead:
🔹Price volatility, regulatory uncertainty, lack of infrastructure, environmental concerns, and need for consumer education.
🔹Impact: If passed, the bill could position North Carolina as a crypto-forward state and influence other U.S. states toward Bitcoin adoption.
- BitcoinWorld.co.in
#Bitcoin #NorthCarolina #BTC #CryptoAdoption #Legislation
New Bill Introduced: The North Carolina Digital Asset Freedom Act proposes recognizing Bitcoin-like assets as legal payment within the state.
Strict Criteria: To qualify, digital assets must:
Use Proof-of-Work consensus.
Have a capped supply.
🔹Exceed $750 billion in market cap — effectively pointing to Bitcoin only.
🔹Following CBDC Ban: This follows North Carolina’s 2024 ban on Central Bank Digital Currencies, showing a clear pro-Bitcoin stance.
Potential Benefits:
🔹Boost economic innovation and investment.
🔹Increase financial inclusion for unbanked communities.
🔹Lower transaction fees, improve privacy, and enable tax payments in Bitcoin.
Challenges Ahead:
🔹Price volatility, regulatory uncertainty, lack of infrastructure, environmental concerns, and need for consumer education.
🔹Impact: If passed, the bill could position North Carolina as a crypto-forward state and influence other U.S. states toward Bitcoin adoption.
- BitcoinWorld.co.in
#Bitcoin #NorthCarolina #BTC #CryptoAdoption #Legislation
🚨🇺🇸 ARIZONA PASSES BITCOIN MINING RIGHTS BILL
HB 2342 protects Bitcoin miners and node runners from zoning or usage bans.
🔹The bill passed the Arizona Senate with a 17-12 vote.
🔹The bill now moves to the Governor's desk for final signature.
-Arizona Legislative News$BTC
HB 2342 protects Bitcoin miners and node runners from zoning or usage bans.
🔹The bill passed the Arizona Senate with a 17-12 vote.
🔹The bill now moves to the Governor's desk for final signature.
-Arizona Legislative News$BTC
#CongressTradingBan Congress is the legislative body of the U.S., responsible for making laws and governing. #Congress #USPolitics #Legislation #Government #Lawmaking #Democracy
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