Gov. Ricardo Rossello says in an exclusive interview with CNBC his administration would like to “take advantage of the blockchain component of it because it has transformative and disruptive components for business and for government.”
“We would really, at least my administration, would like to take advantage of the blockchain component of it because it has transformative and disruptive components for business and for government,” Rossello said.
Puerto Rico is luring crypto entrepreneurs and investors thanks to an exemption within the Internal Revenue Code, called Act 22, that allows nonresidents of Puerto Rico to pay no taxes on their long-term capital gains.
Puerto Rico is calling itself the “friendliest locale in the United States for entrepreneurs, investors and service providers in the crypto-currency and blockchain arena,” according to a description of a conference called “Puerto Crypto,” which is taking place next month.
