{"title":"The Paradise Performs","authors":"José Atiles","doi":"10.1215/00382876-9826032","DOIUrl":null,"url":null,"abstract":"This paper develops a sociolegal analysis of the legislation and tax policies implemented by the US and Puerto Rico (PR) governments to incentivize venture capitalists and cryptocurrency investors to relocate to PR. Specifically, the paper looks at the role that Act 60 of 2019 played in attracting blockchain proponents and cryptocurrency investors to PR. By analyzing this tax policy and the governmental official discourses, this paper demonstrates that the blockchain and cryptocurrency sectors have contributed to the transformation of PR into an offshore financial center or tax haven. Furthermore, the paper shows how grassroot movements, among them Abolish Act 60, have organized against this transformation. Thus, the paper demonstrates how the slogan “the paradise performs” is largely embedded in legal practices, tax evasion, and fraud.","PeriodicalId":21946,"journal":{"name":"South Atlantic Quarterly","volume":"296 1","pages":""},"PeriodicalIF":2.1000,"publicationDate":"2022-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"3","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"South Atlantic Quarterly","FirstCategoryId":"90","ListUrlMain":"https://doi.org/10.1215/00382876-9826032","RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"CULTURAL STUDIES","Score":null,"Total":0}
引用次数: 3
Abstract
This paper develops a sociolegal analysis of the legislation and tax policies implemented by the US and Puerto Rico (PR) governments to incentivize venture capitalists and cryptocurrency investors to relocate to PR. Specifically, the paper looks at the role that Act 60 of 2019 played in attracting blockchain proponents and cryptocurrency investors to PR. By analyzing this tax policy and the governmental official discourses, this paper demonstrates that the blockchain and cryptocurrency sectors have contributed to the transformation of PR into an offshore financial center or tax haven. Furthermore, the paper shows how grassroot movements, among them Abolish Act 60, have organized against this transformation. Thus, the paper demonstrates how the slogan “the paradise performs” is largely embedded in legal practices, tax evasion, and fraud.
期刊介绍：
Individual subscribers and institutions with electronic access can view issues of the South Atlantic Quarterly online. If you have not signed up, review the first-time access instructions. Founded amid controversy in 1901, the South Atlantic Quarterly continues to cover the beat, center and fringe, with bold analyses of the current scene—national, cultural, intellectual—worldwide. Now published exclusively in special issues, this vanguard centenarian journal is tackling embattled states, evaluating postmodernity"s influential writers and intellectuals, and examining a wide range of cultural phenomena.
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