Puerto Rico's Crypto Tax Haven Status Under Fire!

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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.

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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.

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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%).

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If passed, this new law could shake up the island’s crypto scene and force big investors to rethink their strategy.

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What do you think — fair move or a blow to crypto innovation?

Drop your thoughts below!

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