Cryptocurrency aficionados have been flocking to Puerto Rico, attracted by a provision that exempts relative newcomers to the island from paying taxes on their capital gains. But the governor of Puerto Rico is not quite sold on crypto. “Cryptocurrency is sort of an application of that — I am concerned with some of the reports that have been going on there on how this is being used,” Gov. Ricardo Rossello said in an interview with CNBC. “So, in my view, there is still a lot of work to be done and giving clarity that this is not used for money laundering or it’s not used for other areas.”
Still, he’s much more bullish about the prospect of blockchain, something he calls a “phenomenal technology” and a “game changer.”“We would really, at least my administration, would like to take advantage of the blockchain component of it because it has transformative and disruptive components for business and for government,” Rossello said.