Puerto Rico's Tax Incentives Fail

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beleaguered digital currency Tether

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The crypto founder who didn't save Puerto Rico after all | TechCrunch

Summary

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84% Informative

In Puerto Rico , tax breaks enacted in 2012 aimed to encourage mainland U.S. citizens to do business and live on the island, where they could apply to pay nothing in capital gains taxes.

But the tech — and primarily crypto — entrepreneurs who showed up in droves to shield their wealth didn't do much to improve its fortunes.

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informal

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English

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not offensive

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