Source: Cointelegraph Original: "{title}"

A U.S. House representative has proposed legislation aimed at preventing investors from using the U.S. territory of Puerto Rico as a cryptocurrency tax haven.

According to a Bloomberg report on April 21, New York Representative Nydia Velázquez introduced the "Puerto Rico Digital Asset Fair Taxation Act," which could change existing laws in the region to require certain investors to pay local and federal taxes on capital gains, including those from digital assets. The legislation is reported to add relevant provisions to Puerto Rico's "Internal Revenue Code," making cryptocurrency income subject to federal tax laws.

Velázquez stated, "This wave of cryptocurrency investors has neither helped Puerto Rico recover nor strengthened the local economy. On the contrary, they have driven up housing prices, forced local residents to move away, and placed greater pressure on an island where nearly 40% of the population lives below the poverty line, while also costing the federal government billions in tax revenue."

Since Puerto Rico began allowing tax exemptions under Act 20 and Act 22 (later merged into Act 60) in 2012, the region has become known as a tax haven for the cryptocurrency industry. It has attracted investors including Pantera Capital founder Dan Morehead, venture capitalist Brock Pierce, and influencer Logan Paul.

Reports indicate that Velázquez's office estimates that due to the current tax incentive policies, Puerto Rico could lose about $4.5 billion in tax revenue between 2020 and 2026. In contrast, Puerto Rico Governor Jenniffer González-Colón has proposed extending Act 60, which is set to expire in 2035, to the end of 2055, but requires applicants to pay a 4% capital gains tax, which is lower than the regular U.S. tax rate of up to 37%.

It remains unclear whether the legislation proposed by the Democrat Velázquez will gain sufficient political support in the Republican-controlled House or Senate. Both chambers may consider voting on stablecoin legislation and a cryptocurrency regulatory framework in the coming months.

Related: "Cryptocurrency is not Communism" - Executives criticize the Bank for International Settlements' views on cryptocurrency.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。