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The legislation proposed by New York Representative Nydia Velázquez came after the Puerto Rico Governor floated a 4% capital gains tax for new applicants. US lawmaker targets crypto investors using Puerto Rico as a tax haven A member of the House of Representatives has proposed legislation aimed at stopping investors from using the US territory of Puerto Rico as a crypto tax haven. According to an April 21 Bloomberg report, New York Representative Nydia Velázquez introduced the Fair Taxation of Digital Assets in Puerto Rico Act, a bill that could change existing laws in the territory to require certain investors to pay local and federal taxes on capital gains, including from digital assets. The legislation would reportedly add text to Puerto Rico’s Internal Revenue Code, making income from cryptocurrencies subject to federal tax laws. “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.” 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. Missing out on crypto tax revenue Rep. Velazquez’s office reportedly said Puerto Rico could lose roughly $4.5 billion in revenue from 2020 to 2026 due to the tax incentives in place. In contrast, Puerto Rico Governor Jenniffer González-Colón proposed extending Act 60, set to expire in 2035, to the end of 2055, but requiring applicants to be subject to a 4% capital gains tax rate, smaller than the typical range up to 37% in the US.

Announcement on Suspension of BROCK-BROCK Network Withdrawal Services | Bitget Support Center https://www.bgportable.com/support/articles/12560603819385

Announcement on Suspension of BROCK-BROCK Network Withdrawal Services | Bitget Support Center https://www.bgportable.com/support/articles/12560603819074?appVersion=2.47.1&time=1733126359168&androidSdk=31&language=en_US&appTheme=standard

stablecoin issuer Tether has announced the release of a documentary on its 10th anniversary, highlighting the impact of USDT in fighting inflation. The documentary trailer features interviews with users from countries like Turkey, Brazil, and Argentina, where high inflation rates are prevalent. The film aims to showcase USDT as a tool similar to the US dollar, with one interviewee noting that in Brazil, “Tether with USDT is like 90% of the transactions that Brazil makes during the day.” In 2023, USDT adoption in Brazil surged, accounting for 80% of all crypto transactions in the country. Tether’s journey began on October 6, 2014, when its first tokens were launched by entrepreneur Brock Pierce, Reeve Collins, and software engineer Craig Sellars. Initially branded as Realcoin, the project rebranded to Tether, offering tokens that represent fiat currencies at a 1:1 ratio, facilitating global asset transfers via blockchain technology. Originally built on the OmniLayer platform on the Bitcoin protocol, USDT has since expanded to multiple blockchains, including Ethereum, Tron, and The Open Network. With a market capitalization of $120 billion, USDT remains the largest stablecoin by market cap and the third-largest cryptocurrency overall, following Bitcoin (BTC) and Ether (ETH). Tether CEO Paolo Ardoino emphasized the company's commitment to financial inclusion, particularly for those “left behind” by traditional banking systems. In a post on X, Ardoino described Tether as a “symbol of disintermediation, resilience, and stability,” focusing on empowering people, communities, and entire countries. He highlighted that Tether aims to provide financial technology for individuals in developing countries who lack access to bank accounts due to insufficient revenue generation for traditional banks. $BTC $ETH

Here is an overview of the team and development behind WAXP (Wax): _Founders:_ 1. William Quigley (CEO) 2. Jonathan Yantis (COO) 3. Malcolm CasSelle (President) _Core Team:_ 1. William Quigley (CEO) 2. Jonathan Yantis (COO) 3. Malcolm CasSelle (President) 4. Dave DeMarco (CTO) 5. Michael Marquardt (CFO) _Advisors:_ 1. Brock Pierce (Blockchain Capital) 2. William Shatner (Actor and Entrepreneur) 3. Richard Garriott (Game Developer and Entrepreneur) _Development:_ 1. WAXP is built on the EOS blockchain. 2. Development is transparent, with regular updates on GitHub and social media. 3. Wax has a strong focus on research and development, with partnerships with academic institutions. _Development Roadmap:_ 1. Short-term (2024): - Improve scalability and performance - Enhance user experience 2. Mid-term (2025-2026): - Implement decentralized governance - Develop new features and applications for WAXP 3. Long-term (2027 and beyond): - Continue to improve scalability, security, and usability - Explore new blockchain technologies and interoperability solutions Please note that this information is subject to change as the project evolves.