Dan MoreHead, founder and management partner of Crypto Investment Form Pantera Capital, has been investigated by Puerto Rico, a well -known tax haven.
In a letter received on January 9, the US Senate Financial Services Commission (SFC) moved to Puerto Rico in 2020 and earned more than $ 880 million.
According to the January 9 letter of Senator Ron Wyden, New York Times, Morehead has been exempted from US taxes, saying, “You may have treated it as exempt from US taxes.
According to this letter, SFC is investigating tax compliance among wealthy Americans moving to Puerto Rico and may have applied tax reductions inappropriate to avoid paying taxes on income earned outside the island.
“In most cases, most of the benefits are actually the US source income, it can be reported in the US tax return, and the US tax is applied.
Morehead added that he moved to Puerto Rico in 2021 in a statement.
Founded by Morehead, Pantera Capital was the first Cryptocurrency fund in the United States and saw that the first investment increased by more than 130,000%. He wrote on a blog post on November 26, 2024.
MOREEAD began Pantera Bitcoin Fund in July 2013, earning more than 1,000 times of revenue of revenue for the first Bitcoin (BTC) purchase, he said, he said. He added that 1%of the financial departments did not find Bitcoin.
Pantera asset under management. Source: Pantera Capital
According to the company’s homepage, Petera Capital manages more than $ 5 billion assets, 47%of capital outside the United States invested outside the United States, and 47%of capital invested outside the United States.
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Cryptography tax is attracting regulatory interest worldwide.
Investigations on moreheads occur as regulatory investigations on cryptocurrency taxes increases. In June 2024, IRS (IRS) announced a new rules for the first time to receive a third -party tax report on encryption transactions.
In 2025, the centralized encryption exchange (CEX) and other brokers begin to report sales and exchanges of digital assets, including cryptocurrency.
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This decision can be pushed into a decentralized platform in a “paradoxical situation” that can be more difficult for encryption investors to track tax income, told MOINTELEGRAPH.
The Block Chain Association, which introduced the backlash of the cryptocurrency industry, filed a lawsuit against the IRS in December 2024, and the rules insisted that it is unconstitutional because it expands data collection requirements, including exchanges distributed according to the “broker” period.
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