Puerto Rico is seeing a revival of interest among the crypto community which is attracted by the fact that there is no charge on federal income tax on their crypto gains.
those who reside in Puerto Rico for at least six months a year are exempted from taxes on interest, dividends and capital gains. The reputation of the territory being a crypto tax haven was identified when many had moved to Puerto Rico in to avoid income taxes. Crypto related businesses that have relocated to Puerto Rico in recent years include the hedge fund Pantera Capital and NFT marketplace SuperRare .
The Puerto Rico Blockchain Trade Association recently publicized the first edition of the Puerto Rico Blockchain Week which seeks to pull more crypto tycoons and investment into the island. Aiming to attract crypto investors and businesses El Salvador also offers tax breaks on Bitcoin trading with investors exempt from paying capital gains and income tax on Bitcoin.
