Roger Ver \u2013 one of the earliest adopters of Bitcoin and among the community\u2019s most outspoken figures \u2013 has agreed to pay nearly $50 million to settle a tax case with the US government.<\/p>\n
According to a court filing on Tuesday, Ver reached a deferred prosecution agreement with the Department of Justice (DoJ). In exchange for a $49.9 million payment, prosecutors will not pursue a federal indictment over tax evasion tied to his Bitcoin holdings.<\/p>\n
Ver earned the nickname \u201cBitcoin Jesus\u201d for his enthusiasm in promoting the digital currency during its early years, often giving Bitcoin away to others to raise awareness of the cryptocurrency. By 2014, Ver reportedly controlled more than 130,000 Bitcoins \u2013 now worth over $14 billion at current prices. That same year, he renounced his US citizenship and became a citizen of St. Kitts and Nevis, a Caribbean nation known for lax tax regime.<\/p>\n
When he gave up his US citizenship, Ver was legally required to pay an exit tax on his assets, including Bitcoin holdings. According to prosecutors, he failed to pay taxes on roughly $17 million in capital gains. The nearly $49.9 million settlement includes his tax liability, a civil penalty, and interest.<\/p>\n
Neither Ver\u2019s legal team nor the DoJ commented on the deal. The New York Times<\/em> first reported news of the settlement last week before the court filing became public.<\/p>\n \u201cThe resolution sends a clear message: whether you deal in dollars or digital assets, you must file accurate tax returns and pay what you owe,\u201d said Associate Deputy Attorney General Ketan Bhirud.<\/p>\n The deal also highlights a shift in how the US administration now approaches cryptocurrency-related prosecutions under Donald Trump\u2019s executive leadership.<\/p>\n Shortly after returning to office in January, the president pardoned Ross Ulbricht, the founder of Silk Road, an online market that allowed users to buy and sell illegal goods and services. Ulbricht had become a symbol of libertarian resistance and a cult figure in the early cryptocurrency scene for creating the decentralised marketplace, which operated outside government oversight.<\/p>\n In April, the administration disbanded the DoJ\u2019s National Cryptocurrency Enforcement Team (NCET) \u2013 a unit formed to handle crimes involving digital assets \u2013 confirming the perception that the White House is easing up on cryptocurrency-related enforcement.<\/p>\n Meanwhile, Changpeng Zhao, the founder of Binance, is reportedly seeking a presidential pardon. Zhao pleaded guilty in 2023 to violating US anti-money laundering laws and served 4 months in prison as part of his settlement with the DoJ. He remains barred from operating businesses in the US unless the conviction is overturned or pardoned.<\/p>\n The recent settlements, pardons, and enforcement changes mark a clear departure from previous years, when regulators took a firm legal stance on cryptocurrency. Now, the industry\u2019s most controversial figures appear to be finding more room to negotiate with Washington on any legal violations they may commit.<\/p>\n (Photo by Kanchanara<\/a>)<\/em><\/p>\n See also: US SEC weighs tokenised stock trading on cryptocurrency exchanges<\/a><\/strong><\/p>\nSofter cryptocurrency enforcement under Trump<\/h3>\n
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