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Bitcoin Jesus settles tax evasion case for $50 million

Business

Roger Ver, one of crypto's earliest backers and known as "Bitcoin Jesus," has agreed to pay nearly $50 million to the US government to settle federal tax charges.
The deal, finalized this week, means he avoids prosecution by paying up for back taxes, penalties, and interest.

Ver's case highlights the importance of tax compliance

Ver was accused of skipping out on taxes after giving up his US citizenship in 2014, without reporting about 131,000 bitcoins he owned at the time.
In court, Ver admitted to owing about $17 million in taxes he hadn't reported.
This case is a big reminder that US authorities are getting serious about crypto tax compliance—no matter how famous you are in the space.
Ver's been a citizen of St Kitts and Nevis since leaving the US.