Puerto Rico Compliance Report

Regulatory Overview

Regulatory Status

Some rules exist but significant gaps; draft legislation or limited guidance

Primary Legislation

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Travel Rule

Adopted — Threshold: $3,000

Tax Reporting

**U.S. Federal Tax Applicability:** As a U.S. territory, individuals and businesses in Puerto Rico are generally subject to U.S. federal tax laws, including IRS guidance on virtual currency, although there are specific exemptions (e.g., U.S. citizens who are bona fide residents of PR are generally exempt from U.S. federal income tax on PR-sourced income, but still file U.S. federal returns for non-PR income and certain disclosures).. **Puerto Rico's Own Tax Code:** Puerto Rico has its own separate tax system (Código de Rentas Internas de Puerto Rico) administered by the Department of the Treasury (Hacienda).. **Act 60 (Puerto Rico Incentives Code):** This legislation, particularly its Subtitle B (Export Services) and Subtitle C (Individual Resident Investors), offers significant tax incentives that are highly relevant to crypto investors and businesses that relocate to or operate in Puerto Rico.. **For General Puerto Rico Residents (Not under Act 60):**. Capital gains from the sale or exchange of cryptocurrency are generally treated as ordinary capital gains under the Puerto Rico Internal Revenue Code.

Key Facts

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