This article 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 article 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 article demonstrates that the blockchain and cryptocurrency sectors have contributed to the transformation of PR into an offshore financial center or tax haven. Furthermore, the article shows how grassroot movements, among them Abolish Act 60, have organized against this transformation. Thus, the article demonstrates how the slogan “The Paradise Performs” is largely embedded in legal practices, tax evasion, and fraud.

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