Puerto Rico will levy a preferential tax rate of 4% on pledge as a service
It is reported that Puerto Rico’s Ministry of Economic Development and Commerce (DDEC) has issued a guide to digital assets based on blockchain technology and blockchain verification, which points out that a preferential tax rate of 4% will be imposed on “pledge as a service” (any entity participating in blockchain verification will be subject to this ratio). The guide also provides definitions for blockchain verification, pledge, mining, digital assets, etc., which is the first time that Puerto Rico government agencies have clarified relevant concepts, It aims to provide more certainty for individuals and companies in the Web3 industry. （globenewswire）
Interpretation of this information:
The government of Puerto Rico is taking a step forward in regulating the Web3 industry by releasing a guide to digital assets based on blockchain technology and blockchain verification. The guide includes definitions for key terms like blockchain verification, pledge, mining, and digital assets, clarifying these concepts for individuals and companies in the Web3 industry. The guide also announces that any entity participating in blockchain verification will be subject to a preferential tax rate of 4% under the “pledge as a service” model. This is the first time that Puerto Rico government agencies have provided such clarity in digital asset regulation, indicating a positive commitment to supporting the development of the Web3 industry.
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