Roger Ver Settles Tax Case with DOJ, Avoids Prosecution

Roger Ver, a prominent figure in the early days of Bitcoin, has reached a deferred prosecution agreement with the U.S. Department of Justice (DOJ) regarding federal tax charges. The charges stemmed from his alleged failure to properly report his Bitcoin holdings when he renounced his U.S. citizenship in 2014.

The Settlement

Ver reportedly paid nearly $50 million to the Internal Revenue Service (IRS) in back taxes, penalties, and interest. In return, the DOJ moved to dismiss the indictment against him.

Background

Ver, nicknamed "Bitcoin Jesus" for his early evangelism and free distribution of BTC, acquired Bitcoin starting in 2011. In March 2014, he gave up his U.S. citizenship after obtaining citizenship in St. Kitts and Nevis.

This expatriation triggered a requirement to declare all worldwide assets and pay an exit tax on capital gains. Prosecutors alleged that Ver failed to accurately report his Bitcoin holdings on his tax returns, causing a tax loss of $16.86 million to the U.S. government.

Key Takeaways

• Roger Ver settled with the DOJ for nearly $50 million.
• The charges against him were related to underreporting Bitcoin holdings during his expatriation.
• Ver expresses gratitude to the Trump administration and his supporters.

Official Statements

Ver stated he was “very grateful this case has been dismissed and appreciate the Trump Administration’s leadership and professionalism in working towards this final resolution.”

Associate Deputy Attorney General Ketan D. Bhirud commented, “We are pleased that Mr. Ver has taken responsibility for his past misconduct and satisfied his obligations to the American public.”