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🚨🇺🇸 NEW BILL TARGETS PUERTO RICO'S CRYPTO TAX LOOPHOLE
🔹Rep. Nydia Velázquez (D-NY) introduces the Fair Taxation of Digital Assets in Puerto Rico Act
🔹Would end federal tax exemptions for crypto staking, mining & trading income on the island
🔹Current law lets U.S. investors avoid federal taxes by residing in Puerto Rico for 6+ months
🔹Estimated $4.5B in lost revenue (2020–2026) due to crypto-related tax breaks
🔹Velázquez: “It’s about fairness… you should be paying your share — no matter your zip code”
🔹Follows her 2024 UPROAR Act targeting broader tax loopholes for wealthy mainlanders
#CryptoTax #PuertoRico #DigitalAssets #CryptoRegulation #Congress
-The Block$ETH $BTC
🔹Rep. Nydia Velázquez (D-NY) introduces the Fair Taxation of Digital Assets in Puerto Rico Act
🔹Would end federal tax exemptions for crypto staking, mining & trading income on the island
🔹Current law lets U.S. investors avoid federal taxes by residing in Puerto Rico for 6+ months
🔹Estimated $4.5B in lost revenue (2020–2026) due to crypto-related tax breaks
🔹Velázquez: “It’s about fairness… you should be paying your share — no matter your zip code”
🔹Follows her 2024 UPROAR Act targeting broader tax loopholes for wealthy mainlanders
#CryptoTax #PuertoRico #DigitalAssets #CryptoRegulation #Congress
-The Block$ETH $BTC