{"id":810150,"date":"2024-12-04T22:45:01","date_gmt":"2024-12-05T04:45:01","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/04\/bitcoin-jesus-fights-48m-tax-evasion-charges\/"},"modified":"2024-12-04T22:45:01","modified_gmt":"2024-12-05T04:45:01","slug":"bitcoin-jesus-fights-48m-tax-evasion-charges","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/04\/bitcoin-jesus-fights-48m-tax-evasion-charges\/","title":{"rendered":"Bitcoin Jesus Fights $48M Tax Evasion Charges"},"content":{"rendered":"
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\"Bitcoin<\/figure>\n<\/div>\n
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Roger Ver, famously known as \u201cBitcoin Jesus\u201d for his early role in cryptocurrency, is in the spotlight once again\u2014this time for a legal battle. U.S. prosecutors allege that Ver dodged $48 million in taxes tied to Bitcoin sales. Ver, however, is not just denying the accusations; he\u2019s also challenging the legality of the tax rules themselves.<\/p>\n

Here\u2019s everything you need to know.<\/p>\n

Challenging the IRS: Is the Exit Tax Unconstitutional?<\/h2>\n

On December 3, Ver filed a motion in a California federal court<\/a>, arguing that the IRS\u2019s \u201cexit tax\u201d is unconstitutional. This tax ensures individuals pay any dues before renouncing U.S. citizenship, targeting those with over $2 million in assets.<\/p>\n

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Ver, who gave up his U.S. citizenship in 2014 for Japanese citizenship, claims the tax rules for digital assets are unclear. He also points out that back in 2014, Bitcoin markets lacked the liquidity needed to easily settle such taxes.<\/p>\n

His legal team argues that the tax law conflicts with two key constitutional principles: the Apportionment Clause and the Due Process Clause. What will the court say?<\/p>\n

Prosecutors Say It\u2019s More Than a Mistake<\/h2>\n

The prosecution has presented a starkly different story. 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.<\/p>\n

If convicted, Ver could face up to 30 years in prison\u2014a significant penalty for someone with his influence in the cryptocurrency world. Despite this, Ver maintains he had no intent to evade taxes and insists he followed the rules, pointing to documents that he says prove his compliance.<\/p>\n

A Controversial Figure<\/h2>\n

Ver\u2019s rise in the cryptocurrency world has been full of milestones and controversies. In 2011, he made headlines for buying Bitcoin when it was priced at less than $1, earning him the nickname \u201cBitcoin Jesus.\u201d Later, he became a leading supporter of Bitcoin Cash (BCH) following Bitcoin\u2019s 2017 hard fork.<\/p>\n

However, Ver\u2019s legal troubles<\/a> are not new. In 2003, he served 10 months in prison for selling explosives online. More recently, in 2022, crypto exchange CoinFlex accused him of owing $47 million in USD Coin (USDC).<\/p>\n

FAQs<\/h2>\n
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Who is Roger Ver and why is he called \u201cBitcoin Jesus\u201d?<\/strong><\/strong><\/p>\n

Roger Ver is a prominent figure in the cryptocurrency community, nicknamed \u201cBitcoin Jesus\u201d for his early adoption and promotion of Bitcoin.<\/p>\n<\/div>\n

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What are the charges against Roger Ver?<\/strong><\/strong><\/p>\n

Roger Ver is accused of tax evasion and fraud related to the sale of Bitcoin and filing false tax returns.<\/p>\n<\/div>\n<\/div>\n

With millions at stake and constitutional questions on the line, this fight is one to watch. <\/strong><\/p>\n<\/div>\n

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We’d Love to Hear Your Thoughts on This Article!<\/h2>\n
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Was this writing helpful?<\/h4>\n<\/div>\n<\/div><\/div>\n

Read More<\/a>
\n Vijay Gir<\/p>\n","protected":false},"excerpt":{"rendered":"

Roger Ver, famously known as \u201cBitcoin Jesus\u201d for his early role in cryptocurrency, is in the spotlight once again\u2014this time for a legal battle. U.S. prosecutors allege that Ver dodged $48 million in taxes tied to Bitcoin sales. Ver, however, is not just denying the accusations; he\u2019s also challenging the legality of the tax rules<\/p>\n","protected":false},"author":1,"featured_media":810151,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4041,4074],"tags":[],"class_list":["post-810150","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin","category-jesus"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/810150","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=810150"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/810150\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/810151"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=810150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=810150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=810150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}