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RE: What’s going on in Puerto Rico: Crypto Utopia, Puertopia, Sol, Blockchain Unbound, and Hurricane Maria
This post was really interesting. I was surprised to read that the government was involved in this. I guess they got fed up of waiting for help to get back on their feet after the last hurricane.
Let’s see what happens. During the Blockchain Unbound I've heard a lot of dedication from the government to work with the crypto businesses supporting the act 20 & 22 vision. Still, local businesses and startups don't profit from those acts and besides 4% corporate tax and no state tax there are no major tax benefits. Federal govt is still controlling the development speed of the island, imposing its own (huge) limitations (research Act 936 and especially jones act that spikes the prices for all of the produce) . Puerto Rico will never become a state for political reasons (they would just gain "far too many" representatives in the White House) and might eventually separate from him US (which is very logical) but still debatable.
Been learning a lot while on the island.
Will be posting updates on the blog soon.
-K.