Cryptocurrency Analysis and News Portal
The Treasury Department of Puerto Rico has published a working document that amends the current “Sales and Usage Tax” to include NFT sales. While this proposal has yet to be approved, experts believe the inclusion of NFTs in this reform brings validation to the asset class, but also that the
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Following another corruption scandal, the government of Puerto Rico is reportedly seeking to improve its anti-corruption efforts by adopting blockchain technology.Puerto Rican House Speaker Rafael “Tatito” Hernandez announced that lawmakers will hold meetings with local blockchain enthusiasts this month to discuss the potential adoption of blockchain technology to reduce corruption.The
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One of the controversial topics in recent times is the payment of tax on cryptocurrency gains. In the USA, the IRS termed virtual currencies as property which means that holders will pay taxes like holders of fundamental properties or stocks. The agency even sent a subpoena to many centralized cryptocurrency exchanges
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The United States territory of Puerto Rico is seeing a resurgence of interest among crypto investors attracted by the fact it doesn’t charge federal income tax and eligible investors can pay zero taxes on their crypto gains.Under local law Act 22, those who live in Puerto Rico for at least
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One element that defines the latest crush of crypto-native emigres to the island is the insistence that the move means business. Pantera, one of the most watched hedge funds in crypto, have relocated to San Juan. So have CoinMint, a large bitcoin miner, SuperRare, a well-established non-fungible token (NFT) platform,
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The United States-based branch of major cryptocurrency exchange Binance, “Binance.US,” opened account registration and verification services for residents of Puerto Rico.According to an official announcement published on Sept. 30, Puerto Rico residents have the same levels of access as U.S. residents from those states already permitted to use the
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Some in the crypto community have embraced Puerto Rico, which seems to have done a good job of promoting itself. But is it for you? I can only address the tax issues, not anything else. To a large extent, the tax issues depend on what kind of income you will
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