Roger Ver Settles with U.S. DOJ, Agrees to $48 Million Fine
According to the U.S. Department of Justice, Bitcoin advocate Roger Ver admitted to failing to report Bitcoin assets upon renouncing U.S. citizenship in 2014, agreeing to pay nearly $50 million under a deferred prosecution deal.
Roger Ver, known as 'Bitcoin Jesus,' has settled with the U.S. Department of Justice after admitting he failed to report Bitcoin holdings when renouncing his U.S. citizenship in 2014. Under a deferred prosecution agreement, Ver will pay nearly $50 million in taxes, penalties, and interest, with the IRS estimating a loss of $16.9 million. The U.S. government has dropped criminal charges following his acceptance of responsibility. Ver, who became a citizen of Saint Kitts and Nevis in 2014, was extradited from Spain last year before the settlement was finalized.
- Deferred Prosecution Agreement: A legal arrangement allowing charges to be dropped if the defendant meets specified conditions, such as payment or compliance measures.
- Bitcoin: A decentralized digital currency that enables peer-to-peer transactions without intermediaries, operating on blockchain technology.