Puerto Rico International Financial Entity

The Puerto Rico International Financial Entity

Puerto Rico International Financial Entities (“IFE”) are licensed and regulated by the Office of the Commission of Financial Institutions (the “OCIF”) pursuant to Act no. 273. (the “Act”). The Act offers certain tax incentives to IFEs including a four (4%) percent fixed income tax rate on net income derived by an IFE. Dividend or profit […]

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Adam Tracy Explains Wyoming Cryptocurrency Banks

Adam Tracy Discusses Wyoming Special Purpose Depository Institutions

TRANSCRIBED FROM: https://www.adamtracy.io/video/wyoming-cryptocurrency-bank/ So, crypto banking is always a hot topic because nobody can find them, right? It’s just a matter of preference for mainstream banks not to take anybody related to blockchain or crypto. And that’s mainly driven by AML KYC concerns, which, you know, are largely unfounded, but that’s just where we are. […]

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Adam Tracy Discusses Initial Coin Offerings & Money Transmitter Law

Adam Tracy Discusses the Intersection between Initial Coin Offerings & State Money Transmitter Law

TRANSCRIBED FROM: https://adamtracy.io/video/initial-coin-offering-money-transmitter/ So for some time, uh, FinCEN had broken down the crypto space into users, administrators and exchangers. And users, as the name would apply, were people who use cryptocurrency, and FinCEN had- had deemed users to never be acting as money service businesses, money transmitters. Administrators were the issuers of crypto currency, […]

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Adam Tracy Discusses the Problem with Stablecoins

Adam S. Tracy Contemplates the Legality of Stablecoins

TRANSCRIBED FROM: https://adamtracy.io/video/stablecoin-list/ So more and more groups are moving to the stablecoin model, which is nothing more than a token that’s pegged to typically the Unite States dollar… movements in the United States dollar. And functionally, you could question why that’s important considering how liquid the Forex market is and why one would conceivably […]

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