CONGRESS FOR VOTERS

DemocratBill · H.R. 2982· House(119-HR-2982)

Fair Taxation of Digital Assets in Puerto Rico Act of 2025

Rep. Velázquez
Age: 73 years
New York
Introduced
4/21/2025
Last activity
4/21/2025 — Referred to the House Committee on Ways and Means.
Sponsored by
Nydia Velázquez
Cosponsors
Democrat - 2Republican - 0
Taxation
  1. Introduced
  2. In Committee

What this bill would do

The "Fair Taxation of Digital Assets in Puerto Rico Act of 2025" amends the Internal Revenue Code of 1986. It changes how income from digital assets is sourced for residents of Puerto Rico. Specifically, it ensures that income from mining, staking, holding, or selling digital assets is not treated as being derived from sources within Puerto Rico.

Yes· 3 of 7

  • Would the very wealthiest people be better off under this?+8

    Provides substantial tax advantages for ultra-high-net-worth digital asset holders in Puerto Rico.

  • Would billionaires be better off under this?+8

    Provides substantial tax advantages for billionaires holding digital assets in Puerto Rico.

  • Would people with substantial wealth be better off under this?+7

    Significantly benefits high-net-worth individuals in Puerto Rico through favorable tax sourcing rules for digital assets.

The opposite

  • Does this reduce what the federal government owes?-1

    Potential reduction in federal tax revenue from digital asset income of Puerto Rican residents.