The United States Department of Justice announced $50 million tax fraud charges against Roger Ver, an early Bitcoin investor and creator of Bitcoin Cash. Ver, known as ‘Bitcoin Jesus,’ has invested in various crypto start-ups, including Bitcoin.com, Blockchain.com, Ripple, BitPay, and Kraken. Authorities in Spain arrested Ver based on criminal charges in the US, including mail fraud, tax evasion, and filing false tax returns. The US government claimed that Ver defrauded the IRS by not declaring digital assets held in corporate entities as an “exit tax,” resulting in a loss of $48 million.
According to the indictment unsealed on April 29, Ver allegedly took control of around 70,000 BTC in June 2017 and sold them later that year for $240 million following a historic bull run. Ver has a history of controversy, including a dispute with crypto investment platform CoinFlex over $47 million in USD Coin. Bitcoiner Dan Held, a former growth lead at Kraken, criticized Ver for almost destroying Bitcoin and stated that Ver deserves the consequences he faces. Held alleged that Ver had attacked his livelihood by attempting to get him fired and tarnishing his reputation.
Ver has not commented on social media regarding the Justice Department charges, and US officials plan to extradite him from Spain to the US to stand trial. Although Ver ceased to be a US citizen in 2014, the crypto community speculates about his future, with many believing that he will settle the case and move on, similar to ex-Binance CEO Changpeng “CZ” Zhao after facing controversy. Some members of the community, like Altcoin Daily, point out that Ver is a wealthy individual and may opt for a settlement or plea deal to resolve the charges.
The crypto community has been divided in its response to Ver’s situation, with some expressing satisfaction that he is facing consequences for his actions, while others hope for a fair resolution. Ver’s impact on the industry and his involvement in various crypto projects have given him visibility and influence within the community, leading to mixed reactions to the news of his charges. Ver’s actions and behavior over the years have led to disputes and conflicts with other members of the crypto space, further fueling the debate over his culpability and the potential outcomes of the legal proceedings in the US. The case against Ver highlights the importance of transparency and compliance in the crypto industry and the consequences of failing to adhere to regulatory guidelines.
