Roger Ver Seeks to Dismiss U.S. Tax Evasion Charges

Roger Ver, a prominent figure in the cryptocurrency space, is contesting a U.S. criminal indictment accusing him of evading $240 million in taxes from Bitcoin sales. Ver, who was arrested in Barcelona in April 2024, has now filed a motion to dismiss the indictment.

Allegations and Charges

Ver was indicted on eight counts by the U.S. Attorney for the Central District of California for evading over $48 million in taxes. The charges stem from his alleged underreporting of Bitcoin holdings and other assets in 2014. Ver’s lawyers argue that the indictment was influenced by government bias.

Motion to Dismiss

Ver’s attorneys claim that the Department of Justice inappropriately accessed confidential attorney-client communications and did not reveal key evidence to the grand jury. Ver claims he did what any reasonable person would do, following professional advice based on the limited regulatory guidance available at the time regarding cryptocurrencies.

“I anticipated being a political target for the IRS after my expatriation,” Ver stated. “My actions were in accordance with the law.”

Ver’s defense team further states that only after his move to Spain did the IRS start to issue clear directions on crypto-taxes. Only then could a fair market valuation for his Bitcoin holdings be applied, which was difficult to determine due to the asset’s low liquidity and high volatility at the time.

Crypto Community Reaction

The case has attracted attention from the crypto community, with many condemning the U.S. DOJ for its enforcement-first approach to digital assets. Critics believe the charges represent selective enforcement, targeting individuals based on political considerations rather than clear evidence of wrongdoing.

“This is another example of lawfare against the crypto industry, targeting individuals based on political considerations rather than clear evidence of wrongdoing,” said Robert Barnes, a civil rights attorney who supports Ver’s case.

Upcoming Trial and Extradition

Ver’s trial is set to occur in February 2025 and hinges upon extradition. The case comes as the U.S. is preparing for a fresh administration, which many in the cryptocurrency industry see as more favorable to digital assets. Under the incoming administration, the expectation is for a less staunch approach to be taken with regard to cases like Ver’s, especially those deemed politically motivated in nature.

For more news and updates on the cryptocurrency space, visit Global Crypto News.

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