Roger Ver, a prominent figure in the cryptocurrency space and one of Bitcoin’s pioneering advocates, has reached a significant settlement with the United States government, agreeing to pay nearly $50 million to resolve a tax dispute.
As per a court filing released on Tuesday, Ver entered into a deferred prosecution agreement with the Department of Justice (DoJ). In this agreement, he will pay $49.9 million, and in return, prosecutors will refrain from pursuing a federal indictment against him for tax evasion linked to his substantial Bitcoin holdings.
Known as “Bitcoin Jesus,” Ver gained fame for his passionate promotion of Bitcoin during its formative years, even distributing the cryptocurrency for free to raise awareness. By 2014, he was reported to control over 130,000 Bitcoins, amounting to more than $14 billion at current market values. That same year, Ver renounced his US citizenship in favor of citizenship in St. Kitts and Nevis, a Caribbean nation noted for its lenient tax laws.
Upon relinquishing his US citizenship, Ver was mandated to pay an exit tax on his assets, which included his Bitcoin investments. Prosecutors allege that he did not pay taxes on approximately $17 million in capital gains. The nearly $49.9 million settlement encompasses his tax obligations, civil penalties, and accrued interest.
Both Ver’s legal representation and the DoJ have not publicly commented on the agreement. The New York Times initially reported the settlement before the details became officially available through the court filing.
“This resolution sends a strong message: whether dealing in fiat currencies or digital assets, it is imperative to file accurate tax returns and meet your obligations,” stated Ketan Bhirud, Associate Deputy Attorney General.
Shifting Landscape of Cryptocurrency Enforcement
This agreement also highlights a notable shift in the US government’s stance toward cryptocurrency enforcement, particularly under the current Trump administration.
Since returning to office in January, President Trump granted a pardon to Ross Ulbricht, the founder of Silk Road—a platform that enabled the trade of illegal goods and services and became emblematic of early cryptocurrency culture and libertarian ideals.
In April, the administration disbanded the DoJ’s National Cryptocurrency Enforcement Team (NCET), a unit specifically tasked with addressing crimes related to digital assets, reinforcing the notion that the White House is easing restrictions on cryptocurrency oversight.
In another noteworthy case, Changpeng Zhao, the founder of Binance, has reportedly sought a presidential pardon. Zhao pleaded guilty in 2023 to violating US anti-money laundering laws and served four months in prison. Currently, he is prohibited from conducting business activities in the US unless his conviction is overturned or he obtains a pardon.
These recent settlements and changes in enforcement signal a marked departure from the stringent regulatory atmosphere of previous years. It appears that controversial figures in the cryptocurrency space are finding increasing opportunities to negotiate terms with regulatory authorities.
(Photo by Kanchanara)
See also: US SEC considers tokenized stock trading on cryptocurrency platforms.
Want to discover how blockchain is influencing the future of security and infrastructure? Join the Cyber Security & Cloud Expo in Amsterdam, California, and London. Attend sessions on decentralized identity, zero-trust systems, and the role of blockchain in secure cloud strategies. This event is part of TechEx and co-located with other leading technology conferences. Click here for more details.
Blockchain News is powered by TechForge Media. Explore additional upcoming enterprise technology events and webinars here.
