Puerto Rico governor: Blockchain transformative for business and government

Governor of Puerto Rico Ricardo Rossello says 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.”

The governor has called blockchain “phenomenal technology” and a “game changer.”

The Puerto Rico Department of Economic Development and the governor’s office are partnering with a conference called “Puerto Crypto” taking place next month.

Rossello is slated to speak at the event.

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.”

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.

Write: Sara Bauer


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