Roger Ver, an early Bitcoin investor and co-founder of Bitcoin Cash, has reportedly reached a tentative settlement with the U.S. Department of Justice regarding criminal tax charges related to an alleged $48 million loss to the government. The New York Times reported on Oct. 9 that Ver, who was arrested in April 2024, is facing charges of mail fraud, tax evasion, and filing false tax returns.
According to prosecutors, Ver is accused of concealing ownership of significant Bitcoin holdings from the Internal Revenue Service while residing abroad, resulting in the deprivation of tens of millions of dollars in tax revenue to the U.S. government.
Sources familiar with the matter have disclosed that under the proposed agreement, Ver would pay approximately $48 million to the U.S. government. If Ver agrees to the terms of the settlement, the Justice Department could potentially drop the criminal charges against him.
This development comes at a time when there is a noticeable shift in Washington’s stance towards cryptocurrencies under the Trump administration. Since returning to the White House earlier this year, President Trump has shown support for the crypto industry by easing regulatory pressures on firms like Coinbase and Binance. Additionally, he has appointed more industry-friendly officials to lead financial agencies.
In a surprising move, President Trump granted clemency to Ross Ulbricht, the founder of Silk Road, during his first week in office. Ulbricht later voiced his support for Ver, emphasizing that no one should face a life sentence for tax-related offenses.
Following the news of a potential settlement for Ver, traders on the prediction platform Polymarket have increased the odds of President Trump granting him a presidential pardon from 23% to 29%.
As this story continues to unfold, it highlights the evolving landscape of crypto enforcement and the intersection of digital assets with traditional regulatory frameworks.
Please note that the opinions expressed in this article are solely those of the writer and do not necessarily reflect the views of CryptoSlate. It is essential to conduct thorough research and exercise caution when buying and trading cryptocurrencies, as it inherently involves high risks. Make sure to perform your due diligence before making any investment decisions based on the information provided in this article.