**Roger Ver Pays $50 Million to Settle Bitcoin Tax Evasion Case; DOJ Dismisses Charges Under Deferred Prosecution Agreement**
Roger Ver, an early bitcoin investor famously known as “Bitcoin Jesus,” has agreed to pay nearly $50 million to settle charges related to tax evasion on his bitcoin holdings. The U.S. Department of Justice (DOJ) has dismissed its indictment against Ver following this settlement.
Ver admitted to willfully failing to report his substantial bitcoin assets to tax authorities. Known for his extensive promotion of Bitcoin since 2011, Ver left the United States in 2014 and obtained citizenship in St. Kitts and Nevis. As part of his expatriation, he was legally required to declare all his assets—including his large bitcoin holdings—and pay capital gains tax on their constructive sale.
However, Ver minimized his bitcoin ownership on tax returns and failed to declare the tax owed on these assets, resulting in significant losses in tax revenue for the U.S. government.
### Bitcoin Jesus’ $50 Million Penalty Revealed
The deferred prosecution agreement between Ver and the DOJ confirmed that his failure to disclose his cryptocurrency assets was a willful violation of tax laws. The indictment highlighted the deliberate disregard of legal responsibilities, causing the IRS to lose approximately $17 million in tax revenue.
In addition to the back taxes owed, Ver paid over $12 million in penalties and accrued interest, bringing the total settlement amount to nearly $50 million.
Bill Essayli, Acting U.S. Attorney, emphasized the importance of tax compliance, stating that everyone is required to pay their taxes regardless of their assets or wealth. He praised Ver for accepting responsibility and resolving the matter, noting that this sends a strong message about the enforcement of tax laws on digital assets.
### DOJ Ends Legal Battle, Sets Precedent on Crypto Taxes
Following Ver’s payment of the settlement, the DOJ moved to dismiss the federal indictment against him. Associate Deputy Attorney General Ketan D. Bhirud stated that this outcome reinforces the expectation that cryptocurrency investors must submit accurate tax returns and pay the taxes they owe on their digital assets.
This resolution demonstrates that tax evasion involving cryptocurrencies is taken as seriously as evasion related to traditional assets. Investigations by the IRS Criminal Investigation unit and the Cyber Crimes department revealed that neither advanced technology nor the type of asset can shield individuals from tax obligations.
### A Strong Reminder for Crypto Tax Compliance
The case serves as a powerful reminder that the government is intensifying its scrutiny of cryptocurrency tax compliance. Although Roger Ver was once celebrated as a passionate advocate for expanding Bitcoin’s adoption, his federal tax issues concluded with this substantial $50 million settlement.
This development reverberated through the crypto community, underscoring the critical importance of transparency and adherence to legal requirements when it comes to digital assets and taxation.
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