This bill modifies federal tax rules for Puerto Rican residents who earn income from digital assets like cryptocurrencies. Currently, Puerto Rico offers tax breaks on certain types of income earned by residents, but this bill explicitly excludes digital asset income from those benefits by declaring that such income is not considered Puerto Rican-source income for federal tax purposes. This applies to income from mining, staking, holding, or selling digital assets, as well as financial interests in digital assets. The change would take effect for tax years beginning after the bill is enacted, and it would affect Puerto Rican residents who participate in cryptocurrency and blockchain activities. The bill was introduced by House members representing Puerto Rico and was referred to the Ways and Means Committee for consideration.
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