Democrats Take Aim at Puerto Rico Tax Perks for Crypto Investors

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.

Under current laws, qualified investors living in the US Commonwealth are not required to pay local or federal taxes on capital gains, including crypto appreciation. That tax break — part of a broader package of tax incentives known as Act 60 — has made the island a haven for thousands of digital currency enthusiasts.

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