"Bitcoin Jesus" Reaches Agreement with U.S. Government

One of the most debated lawsuits in the crypto world ends with a fine. Roger Keith Ver, an early investor in cryptocurrencies known as "Bitcoin Jesus," has agreed to pay up to $49.9 million to settle allegations in the United States that he evaded millions in taxes. The U.S. Department of Justice announced this on Tuesday. The 46-year-old entrepreneur Ver reached a deferred prosecution agreement with U.S. justice authorities a deferred prosecution agreement. The indictment against him for mail fraud and tax evasion in a federal court in Los Angeles (Case No. 2:24-CR-00103-MWF) will be settled. This concludes the tax fraud case that has been ongoing for almost ten years.

Ver, an early proponent of Bitcoin, also known as "Bitcoin Jesus" due to his missionary enthusiasm for cryptocurrencies, built a fortune with Bitcoin before coming into conflict with law enforcement. The U.S. Department of Justice accused him of concealing the true value of his crypto holdings. Earlier this year, Ver publicly urged the then newly elected U.S. President Donald Trump to "help end this legal battle."

While Trump did not pardon him, the tone towards cryptocurrencies and investors shifted under the Trump administration. The deal between the U.S. Department of Justice and Ver is structured as a deferred prosecution agreement. The agreement stipulates that the U.S. tax authorities can collect up to $49.9 million to cover Ver's tax liability and interest. Thereafter, the indictment against him will be dropped. In a statement, Ver expressed his pleasure that the case was settled and thanked the "leadership and professionalism of the Trump administration in working out this final resolution."

Changed Stance of the U.S. Government

The crypto investor, who renounced his U.S. citizenship in 2014 after obtaining citizenship of the Caribbean nation of St. Kitts and Nevis and also acquired citizenship of Antigua and Barbuda in 2020, was arrested in Spain in April of last year. He faced a lengthy prison sentence for tax offenses. The indictment accused Ver of tax evasion amounting to at least $48 million.

Ver's case is symptomatic of the political tug-of-war over cryptocurrency regulation and the changed stance of the U.S. government under President Donald Trump on this issue. In early March, the U.S. Securities and Exchange Commission (SEC) already initiated an investigation against the crypto exchange Coinbase that was opened in 2023; at the end of May, the SEC declared a case against the crypto exchange Binance to be closed.

Both providers benefit from the recently crypto-friendly stance of the Trump administration. The cryptocurrency industry no longer has to fear prosecution by the U.S. federal judiciary. At Trump's request, the U.S. Department of Justice halted all investigations and indictments against service providers in the areas of cryptocurrencies, blockchains, and NFTs (Non-Fungible Tokens). This also applies to money laundering and other crypto services for terrorists, organized criminals, and individuals on sanction lists.

Trump himself sometimes refers to himself as a "crypto president," after having previously called cryptocurrencies a "scam" during his first term. In the election campaign for his second term, he then appeared open to digital currencies – and received considerable support from the crypto industry. Shortly before taking office, he had the cryptocurrency named after him, "$TRUMP", launched. In May, an exclusive dinner surrounding a crypto project caused a stir and criticism.

• Deferred Prosecution Agreement USA v Roger Keith Ver

(akn)