Act 60 enables crypto investors in Puerto Rico to avoid both local and federal capital gains taxes

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Under current laws, qualified investors living in the US Commonwealth are not required to pay local or federal taxes on capital gains, including crypto appreciation. That tax break — part of a broader package of tax incentives known as Act 60 — has made the island a haven for thousands of digital currency enthusiasts.

Puerto Rico is well known as a tax haven for many people in the crypto industry since the territory began allowing exemptions in 2012 under Act 20 and Act 22 of the Tax Incentives Code — later consolidated as Act 60. The island has attracted investors, including Pantera Capital founder Dan Morehead, venture capitalist Brock Pierce, and online influencer Logan Paul.