<s>
They	O
claimed	O
that	O
their	O
intention	O
was	O
to	O
create	O
an	O
utopian	O
blockchain	B-Application
"	O
crypto	O
city	O
"	O
or	O
"	O
community	O
"	O
,	O
which	O
at	O
various	O
times	O
became	O
known	O
by	O
the	O
names	O
of	O
Puertopia	O
,	O
Crypto	O
Rico	O
,	O
Puerto	O
Crypto	O
or	O
Sol	O
,	O
calling	O
themselves	O
Puertopians	O
.	O
</s>
<s>
Bitcoin	B-Protocol
,	O
created	O
in	O
2009	O
,	O
was	O
the	O
first	O
decentralized	O
cryptocurrency	O
.	O
</s>
<s>
Only	O
months	O
later	O
,	O
a	O
group	O
of	O
cryptocurrency	O
figures	O
led	O
by	O
Bitcoin	B-Protocol
Foundation	O
chairman	O
Brock	O
Pierce	O
relocated	O
to	O
Old	O
San	O
Juan	O
,	O
gathering	O
in	O
hotels	O
and	O
purchasing	O
a	O
colonial	O
building	O
that	O
previously	O
housed	O
a	O
children	O
's	O
museum	O
.	O
</s>
<s>
The	O
first	O
reference	O
to	O
this	O
migration	O
in	O
media	O
happened	O
in	O
January	O
2018	O
,	O
when	O
Jeremy	O
Gardner	O
said	O
that	O
"	O
they	O
're	O
going	O
to	O
build	O
a	O
modern-day	O
Atlantis	B-Application
out	O
there	O
"	O
.	O
</s>
<s>
The	O
new	O
arrivals	O
numbered	O
in	O
the	O
dozens	O
and	O
were	O
mostly	O
composed	O
by	O
executives	O
of	O
firms	O
(	O
Ethereum	O
Blockchain-as-a-Service	O
entrepreneur	O
Andrew	O
Keys	O
)	O
,	O
early	O
adopters	O
,	O
nouveau	O
riche	O
men	O
that	O
had	O
benefited	O
from	O
the	O
early	O
adoption	O
of	O
bitcoin	B-Protocol
and	O
its	O
value	O
rising	O
in	O
2017	O
,	O
traders	O
and	O
investors	O
,	O
among	O
other	O
enthusiasts	O
.	O
</s>
<s>
The	O
group	O
unveiled	O
plans	O
to	O
build	O
Puertopia	O
or	O
Sol	O
,	O
a	O
city	O
in	O
which	O
all	O
transactions	O
were	O
made	O
via	O
digital	O
currency	O
and	O
contracts	O
codified	O
in	O
the	O
underlying	O
technology	O
of	O
blockchain	B-Application
.	O
</s>
<s>
Bitcoin	B-Protocol
ATMs	O
hosted	O
by	O
Bitstop	O
and	O
Athena	O
began	O
being	O
installed	O
,	O
while	O
Robots	O
Inc	O
.	O
was	O
granted	O
a	O
patent	O
for	O
a	O
similar	O
device	O
.	O
</s>
<s>
During	O
the	O
summer	O
of	O
2020	O
,	O
Puerto	O
Rican	O
software	O
mogul	O
Orlando	O
Bravo	O
became	O
interested	O
in	O
bitcoin	B-Protocol
while	O
vacationing	O
at	O
Dorado	O
,	O
purchasing	O
an	O
undisclosed	O
amount	O
of	O
it	O
and	O
publicly	O
speaking	O
in	O
its	O
favor	O
.	O
</s>
<s>
Among	O
these	O
was	O
Frances	O
Haugen	O
,	O
who	O
earned	O
notoriety	O
after	O
exposing	O
the	O
inner	O
workings	O
of	O
Facebook	B-Application
and	O
had	O
purchased	O
enough	O
cryptocurrency	O
"	O
at	O
the	O
right	O
time	O
"	O
.	O
</s>
<s>
At	O
the	O
time	O
,	O
retired	O
baseball	O
player	O
Alfredo	O
Escalera	O
publicly	O
lobbied	O
for	O
more	O
public	O
policy	O
,	O
stating	O
that	O
"	O
our	O
governors	O
should	O
educate	O
themselves	O
about	O
the	O
development	O
of	O
the	O
technology	O
,	O
the	O
mining	O
of	O
the	O
coins	O
and	O
the	O
programming	O
of	O
the	O
'	O
blockchains	B-Application
 '	O
to	O
attract	O
the	O
thousands	O
of	O
investors	O
that	O
engage	O
in	O
this	O
business	O
worldwide.	O
"	O
</s>
<s>
However	O
,	O
this	O
wave	O
also	O
brought	O
individuals	O
that	O
did	O
not	O
receive	O
Act	O
60	O
exemptions	O
but	O
also	O
became	O
involved	O
with	O
the	O
community	O
,	O
such	O
as	O
Keiko	O
Yoshino	O
of	O
the	O
Puerto	O
Rico	O
Blockchain	B-Application
Trade	O
Association	O
.	O
</s>
<s>
Likewise	O
,	O
criticism	O
was	O
targeted	O
at	O
the	O
group	O
for	O
failing	O
to	O
deliver	O
on	O
most	O
of	O
their	O
proposals	O
,	O
including	O
the	O
construction	O
of	O
decentralized	O
power	O
grids	O
backed	O
by	O
blockchain	B-Application
technology	I-Application
,	O
following	O
Maria	O
and	O
for	O
failing	O
to	O
deliver	O
funds	O
gathered	O
after	O
the	O
latest	O
storm	O
to	O
local	O
NPOs	O
.	O
</s>
<s>
In	O
January	O
2022	O
,	O
Speaker	O
Tatito	O
Hernández	O
of	O
the	O
Popular	O
Democratic	O
Party	O
(	O
PPD	O
)	O
,	O
who	O
has	O
argued	O
in	O
favor	O
of	O
employing	O
blockchain	B-Application
for	O
tasks	O
such	O
as	O
fighting	O
public	O
corruption	O
,	O
revealed	O
that	O
the	O
House	O
of	O
Representatives	O
of	O
Puerto	O
Rico	O
was	O
investigating	O
the	O
topic	O
of	O
creating	O
a	O
regulatory	O
frame	O
for	O
cryptocurrency	O
.	O
</s>
<s>
House	O
Resolution	O
527	O
was	O
passed	O
with	O
the	O
expressed	O
intent	O
of	O
studying	O
“	O
the	O
concept	O
of	O
blockchain	B-Application
as	O
a	O
government	O
filing	O
system	O
,	O
as	O
well	O
as	O
the	O
use	O
of	O
digital	O
coins	O
(	O
cryptocurrency	O
)	O
as	O
an	O
accepted	O
form	O
of	O
payment	O
in	O
Puerto	O
Rico	O
"	O
.	O
</s>
<s>
On	O
November	O
7	O
,	O
2022	O
,	O
the	O
Government	O
Commission	O
issued	O
a	O
positive	O
report	O
signed	O
by	O
Ortiz	O
for	O
the	O
investigation	O
of	O
potential	O
uses	O
for	O
the	O
implementation	O
of	O
blockchain	B-Application
for	O
public	O
purposes	O
and	O
regulating	O
cryptocurrencies	O
.	O
</s>
<s>
The	O
DDEC	O
created	O
its	O
own	O
regulatory	O
framework	O
in	O
February	O
2023	O
,	O
when	O
it	O
extended	O
Law	O
60	O
tax	O
exemptions	O
to	O
blockchain-related	O
ventures	O
.	O
</s>
<s>
1565	O
with	O
votes	O
of	O
24-14	O
,	O
which	O
was	O
promoted	O
by	O
Ortiz	O
and	O
intended	O
to	O
create	O
a	O
task	O
force	O
,	O
the	O
Comité	O
Asesor	O
de	O
la	O
Asamblea	O
Legislativa	O
para	O
implementar	O
la	O
tecnología	O
Blockchain	B-Application
,	O
to	O
create	O
a	O
plan	O
for	O
the	O
implementation	O
of	O
the	O
technology	O
within	O
180	O
days	O
.	O
</s>
<s>
When	O
first	O
interviewed	O
about	O
the	O
topic	O
,	O
governor	O
Ricardo	O
Rosselló	O
of	O
the	O
conservative	O
Partido	O
Nuevo	O
Progresista	O
(	O
PNP	O
)	O
expressed	O
that	O
"	O
there	O
is	O
still	O
a	O
lot	O
of	O
work	O
to	O
be	O
done	O
and	O
giving	O
clarity	O
that	O
this	O
is	O
not	O
used	O
for	O
money	O
laundering	O
or	O
it	O
's	O
not	O
used	O
for	O
other	O
areas	O
"	O
,	O
but	O
favored	O
widely	O
adopting	O
blockchain	B-Application
as	O
a	O
"	O
game	O
changer	O
"	O
.	O
</s>
<s>
Despite	O
being	O
in	O
charge	O
of	O
the	O
conference	O
(	O
named	O
"	O
Puerto	O
Crypto	O
"	O
)	O
where	O
relevant	O
legislation	O
is	O
to	O
be	O
addressed	O
,	O
Manuel	O
A	O
.	O
Laboy	O
Rivera	O
Secretary	O
of	O
Economic	O
Development	O
and	O
Commerce	O
of	O
Puerto	O
Rico	O
(	O
DEDC	O
)	O
,	O
expressed	O
a	O
lack	O
of	O
knowledge	O
about	O
the	O
real	O
reach	O
of	O
bitcoin	B-Protocol
within	O
the	O
Puerto	O
Rican	O
economy	O
(	O
despite	O
it	O
being	O
recorded	O
since	O
the	O
early	O
2010s	O
)	O
and	O
speculated	O
that	O
some	O
changes	O
to	O
the	O
local	O
financial	O
regulations	O
may	O
be	O
needed	O
.	O
</s>
<s>
The	O
largest	O
newspaper	O
in	O
Puerto	O
Rico	O
,	O
El	O
Nuevo	O
Día	O
,	O
has	O
been	O
covering	O
cryptocurrency	O
topics	O
since	O
2014	O
,	O
with	O
articles	O
ranging	O
from	O
bitcoin	B-Protocol
adoption	O
and	O
local	O
regulation	O
to	O
the	O
establishment	O
of	O
Medici	O
Bank	O
.	O
</s>
<s>
When	O
price	O
of	O
bitcoin	B-Protocol
improved	O
in	O
2021	O
,	O
Aiola	O
Virella	O
of	O
Metro	O
Puerto	O
Rico	O
interviewed	O
Juan	O
Carlos	O
Pedreira	O
the	O
concept	O
of	O
that	O
coin	O
displacing	O
traditional	O
currency	O
within	O
some	O
markets	O
as	O
inflation	O
increased	O
.	O
</s>
<s>
This	O
publication	O
also	O
gave	O
general	O
coverage	O
of	O
other	O
local	O
topics	O
related	O
to	O
cryptocurrency	O
including	O
regulation	O
,	O
the	O
proposal	O
for	O
a	O
digital	O
coin	O
known	O
as	O
"	O
Kokicoin	O
"	O
,	O
the	O
relationship	O
between	O
Noble	O
bank	O
and	O
Tether	B-Application
and	O
conferences	O
including	O
CoinAgenda	O
.	O
</s>
<s>
Neil	O
Strauss	O
of	O
Rolling	O
Stone	O
opted	O
to	O
publish	O
a	O
biographical	O
article	O
of	O
Pierce	O
and	O
documented	O
his	O
day-to-day	O
life	O
as	O
he	O
intended	O
"	O
to	O
turn	O
Puerto	O
Rico	O
into	O
a	O
Burning	O
Man	O
utopia	B-Application
"	O
,	O
discussing	O
a	O
number	O
of	O
personal	O
quirks	O
which	O
prompt	O
comparisons	O
to	O
cult	O
leaders	O
and	O
hippies	O
,	O
but	O
establishing	O
his	O
position	O
as	O
the	O
de	O
facto	O
leader	O
of	O
the	O
Puertopians	O
.	O
</s>
<s>
Chloe	O
Watlington	O
of	O
The	O
Baffler	O
,	O
disregarded	O
the	O
Puertopians	O
 '	O
proposal	O
to	O
build	O
a	O
techno-utopia	O
as	O
a	O
"	O
battery	O
of	O
garbled	O
catchphrases	O
and	O
slogans	O
masquerading	O
as	O
business	O
plans	O
"	O
and	O
linked	O
them	O
"	O
old	O
colonial	O
scams	O
in	O
Puerto	O
Rico	O
"	O
.	O
</s>
<s>
Samantha	O
Bee	O
was	O
critical	O
of	O
the	O
arrival	O
of	O
these	O
traders	O
to	O
Puerto	O
Rico	O
,	O
calling	O
the	O
group	O
"	O
tax	O
locusts	O
"	O
and	O
hosting	O
Manuel	O
Natal	O
in	O
a	O
segment	O
of	O
Full	O
Frontal	O
with	O
Samantha	O
Bee	O
titled	O
"	O
Tax	O
Locusts	O
and	O
Blockchain	B-Application
Bros	O
"	O
.	O
</s>
<s>
By	O
2018	O
some	O
businesses	O
began	O
accepting	O
bitcoin	B-Protocol
as	O
a	O
form	O
of	O
payment	O
,	O
as	O
did	O
individuals	O
involved	O
in	O
services	O
such	O
as	O
touristic	O
taxis	O
and	O
Uber	O
drivers	O
.	O
</s>
<s>
The	O
increase	O
in	O
adoption	O
also	O
led	O
to	O
cryptocurrency	O
being	O
used	O
by	O
criminals	O
that	O
began	O
requesting	O
scam	O
payments	O
in	O
bitcoin	B-Protocol
.	O
</s>
