Bills · HR 2982
IN COMMITTEE· 119TH CONGRESS
House BillHR 2982Taxation
Fair Taxation of Digital Assets in Puerto Rico Act of 2025
INTRO APR 21· LAST ACTION APR 21
READING
2MIN
COSPONSORS
2
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenThis bill matters because it clarifies and potentially alters the tax obligations for a growing segment of the economy – digital assets – for a specific group of U.S. citizens. If this bill becomes law, Puerto Rican residents involved in activities like cryptocurrency mining or trading would no longer be able to exclude their digital asset income from U.S. federal taxes under the existing Puerto Rico sourcing rules. This could mean a significant increase in their tax liability.
For voters, this bill represents a move to standardize the taxation of digital assets across U.S. jurisdictions, potentially closing what some might see as a tax loophole. It impacts the financial decisions of individuals and businesses engaged in the digital asset space in Puerto Rico, and could influence where such activities are conducted. If it doesn't pass, the current ambiguity or interpretation regarding digital asset income sourcing for Puerto Rican residents would persist, potentially allowing this income to remain exempt from federal tax.
KEY PROVISIONS
4AI-extractedPROVISION 01
Income from digital assets earned by Puerto Rican residents will no longer be treated as sourced from Puerto Rico for U.S. federal tax purposes.
This changes the tax status of digital asset income for Puerto Rico residents, making it subject to U.S. federal income tax.
PROVISION 02
The bill defines 'digital asset income' to include earnings from mining, staking, holding (including forks and airdrops), or selling/exchanging digital assets.
This provides clarity on which specific digital asset activities are covered by the new tax treatment.
PROVISION 03
A 'digital asset' is defined as any digital representation of value recorded on a cryptographically-secured distributed ledger.
This broad definition encompasses most cryptocurrencies, NFTs, and similar blockchain-based assets.
PROVISION 04
Any financial interest in a digital asset will also be treated as a digital asset under these rules.
This prevents circumvention of the new rules through indirect ownership structures.
SPONSORSHIP
1 + 2
D· New York
YRS IN OFFICE
33
BILLS LED
45
COSPONSOR BREAKDOWNBIPARTISAN · 0%
DEM 2 REP 0 IND 0
ACTION TIMELINE
2 EVENTSAPR 21
Introduced in House
APR 21
Referred to the House Committee on Ways and Means.
BILL INFO
TypeHouse Bill
NumberHR 2982
Congress119th
StatusIn Committee
IntroducedApr 21, 2025
Last actionApr 21, 2025
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IN COMMITTEE· 119TH CONGRESS · WAYS AND MEANS COMMITTEE · INTRODUCED APR 21, 2025
House BillHR 2982Taxation
Fair Taxation of Digital Assets in Puerto Rico Act of 2025
INTRODUCED APR 21, 2025· LAST ACTION APR 21, 2025
PASSAGE CHANCES
—%
READING
2 min
COSPONSORS
2
COMPLEXITY
Moderate
