Bitcoin Jesus Fights $48M Tax Evasion Charges
Roger Ver, known as the “Bitcoin Jesus,” is no stranger to controversy. Now, he is facing charges from U.S. prosecutors accusing him of $48 million in tax evasion related to Bitcoin sales. Weir not only denies the accusations. He called the tax rule itself unconstitutional.
Fighting Back against the IRS
On December 3, Ver filed a motion california federal courtarguing that the IRS’s exit tax violates fundamental constitutional rights. The exit tax, designed to ensure citizens pay dues before relinquishing their U.S. citizenship, is a heavy blow for those with assets over $2 million.
Ver, who renounced his U.S. citizenship in 2014 to acquire Japanese citizenship, said the rules around digital assets are too vague. He also noted that back in 2014, the Bitcoin market was not liquid enough to make paying taxes easy.
His legal team argued that the IRS tax laws conflicted with the Distribution Clause and the Due Process Clause. But will the courts agree?
Prosecutors say it wasn’t just a mistake
Prosecutors painted a very different picture. They claim Ver deliberately avoided reporting $240 million in Bitcoin sales and filed false tax returns. According to them, this is a clear case of tax evasion and fraud.
If convicted, Ver could face up to 30 years in prison. This is a big deal, especially for someone of Ver’s influence in the crypto space. Still, Weir insists he had no intention of cheating the system, pointing to documents purportedly proving he followed the rules.
a controversial figure
Veer’s journey was anything but smooth. Back in 2011, he bought Bitcoin when the price was below $1, earning him the nickname “Bitcoin Jesus.” Later, he became a major supporter of Bitcoin Cash after the 2017 Bitcoin hard fork.
But his legal troubles It didn’t start from here. In 2003, he served 10 months in prison for selling explosives online. Just last year, CoinFlex accused him of being owed $47 million in USD Coin (USDC).
what to expect
As the case unfolds, it becomes clear that this isn’t just one person’s problem. This raises significant questions about how tax laws apply to cryptocurrencies. For now, Weir’s future is up in the air.
