Michaela
Roger Ver, widely known as “Bitcoin Jesus,” has reached a deferred prosecution agreement with the U.S. Department of Justice (DOJ) to resolve his federal tax case.
Key points:
- Roger Ver, aka “Bitcoin Jesus,” reached a $50M deferred prosecution deal with the DOJ to resolve his federal tax case.
- Ver admitted failing to report full Bitcoin holdings on his 2016 tax returns, resulting in over $16M in unpaid taxes, plus penalties exceeding $12M.
- The agreement includes dismissal of the indictment and spotlights broader issues around taxation of digital assets and compliance for expatriates.
The DOJ announced that Ver has reached an agreement to resolve federal tax charges, agreeing to pay the Internal Revenue Service (IRS) nearly $50 million in back taxes, penalties, and interest. The charges stem from Ver’s alleged “willful failure” to report his Bitcoin holdings on tax returns after renouncing his U.S. citizenship in 2014.
The U.S. government has filed to dismiss the indictment against Ver as part of the agreement. In it, Ver acknowledged that his May 2016 tax returns failed to report his full Bitcoin holdings and omitted the required capital gains taxes on their constructive sale, resulting in a loss of over $16 million to the United States.
Furthermore, Ver acknowledged that he owed the maximum penalty under 26 U.S.C. § 6663, exceeding $12 million, in addition to accrued interest on the taxes and penalties.
In 2014, Ver renounced his U.S. citizenship after acquiring citizenship in St. Kitts and Nevis. Due to his net worth, he was required to file expatriation-related tax returns and report capital gains on global assets, including his Bitcoin holdings.
In December 2024, Ver submitted a motion to dismiss the charges, contending that the IRS “exit tax” was unconstitutional and lacked clear legal definition.
Earlier this year, Ver publicly appealed to President Donald Trump, seeking intervention to prevent his potential extradition to the U.S. Ver, an early Bitcoin advocate, faces legal scrutiny over alleged violations connected to his promotion of certain cryptocurrency ventures.
The legal challenges trace back to his involvement with the Bitcoin Cash network, which forked from Bitcoin in 2017. Authorities allege Ver promoted projects and individuals later linked to fraud and money laundering, drawing him into ongoing legal disputes.
The resolution of Ver’s tax case could have wider implications for expatriates and crypto investors alike, emphasizing ongoing debates over the taxation of digital assets and cross-border financial compliance.
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
