Senator Probes Crypto Investor’s Alleged Tax Evasion in Puerto Rico
- Sen. Ron Wyden (D-OR) accused Pantera Capital founder Dan Morehead of using Puerto Rican residency to evade over $100 million in U.S. taxes.
- Wyden claims Morehead’s attorneys have not cooperated with the investigation since January.
- Pantera Capital has launched a $1.25 billion Solana treasury company on Wall Street amidst these allegations.
The investigation focuses on whether Morehead improperly avoided paying federal taxes by claiming income as exempt under Puerto Rican tax incentives, which require U.S. tax payments for ten years after moving.
The inquiry is part of a broader examination into how wealthy Americans might exploit Puerto Rican residency for tax benefits, highlighting potential misuse of such incentives by crypto investors like Morehead. Source
