Representative Nydia Velázquez argues that Act 60 has worsened living conditions for Puerto Rico residents while benefiting wealthy outsiders

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“This wave of crypto investors hasn’t helped Puerto Rico’s recovery or strengthened the local economy,” said Rep. Velázquez, according to Bloomberg. “Instead, it’s driven up housing costs, pushed out local residents, and added pressure to an island where nearly 40% of people live in poverty — all while costing the federal government billions in lost tax revenue.”
“This wave of crypto investors hasn’t helped Puerto Rico’s recovery or strengthened the local economy,” Velazquez said. “Instead, it’s driven up housing costs, pushed out local residents, and added pressure to an island where nearly 40% of people live in poverty — all while costing the federal government billions in lost tax revenue.”
“This wave of crypto investors hasn’t helped Puerto Rico’s recovery or strengthened the local economy,” Velazquez said. “Instead, it’s driven up housing costs, pushed out local residents, and added pressure to an island where nearly 40% of people live in poverty — all while costing the federal government billions in lost tax revenue.”