In a court filing made on December 3, Roger Ver, widely recognized as “Bitcoin Jesus”, has petitioned a US court to dismiss tax evasion charges filed by US prosecutors.
Ver argues that the case—stemming from allegations of tax evasion during the sale of millions of dollars worth of Bitcoin—violates constitutional principles.
He presented his case before a federal judge in California, challenging the constitutionality of the Internal Revenue Service’s (IRS) “exit tax”.
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The exit tax imposed by the IRS ensures that US citizens settle any unpaid taxes before renouncing their citizenship and leaving behind the country’s tax responsibilities. Ver, however, argues that he faced challenges in navigating this complex process, especially due to a lack of liquid markets for Bitcoin
$99,479.47
at the time.
Ver’s legal team claimed that the IRS tax was in violation of both the Apportionment Clause and the Due Process Clause of the US Constitution.
The US Attorney’s Office announced that Ver had been arrested in Spain on April 30, with charges of fraud and tax evasion.
The alleged tax fraud stems from transactions that Ver reportedly completed while renouncing his US citizenship in favor of Japanese nationality in 2014. Additionally, prosecutors allege that Ver evaded more than $48 million in taxes by failing to report capital gains from selling $240 million in Bitcoin.
Despite Ver’s defense, the US government maintains that he submitted a fraudulent exit tax return and insists that his renouncement of citizenship was part of an effort to evade taxes.
If convicted on all counts, Ver could face up to 30 years in federal prison.
As Ver continues challenging the US government’s tax claims, crypto mogul Alex Mashinsky pleaded guilty to charges related to misleading investors and selling CEL tokens. How did his attempt end up? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
