Lobbying Efforts Surrounding Cryptocurrency Investor Roger Ver
Roger J. Stone Jr., a long-time ally of former President Trump, has been engaged in lobbying activities for Roger Ver, a prominent figure in the cryptocurrency world often referred to as “Bitcoin Jesus,” who is currently confronting federal fraud and tax evasion charges. Recent congressional documents reveal that Stone filed a report last month stating he was hired by Ver, an early investor in Bitcoin, who has been accused of evading $48 million in taxes by allegedly concealing his cryptocurrency assets.
Details of Stone’s Involvement in Ver’s Case
In a recent filing, Stone disclosed that he has received $600,000 from Ver since February to assist in his legal battle, which includes efforts to challenge the tax laws central to the allegations. Ver, who previously lived in California but renounced his U.S. citizenship in 2014, was apprehended in Spain last year, prompting the Justice Department to announce intentions to extradite him back to the U.S.
Ver’s Public Defense and Political Claims
Ver has publicly contested the charges against him, asserting in a January social media video that he faces a potential prison term exceeding 100 years, which he attributes to his political beliefs and advocacy for cryptocurrency. He presented his case as an appeal to Trump, drawing parallels between his situation and the former president’s accusations regarding the misuse of the justice system. In the video, he likened his experience to that of Trump, stating, “They’re doing the exact same thing to me that they’ve done to you.”
Trump’s Changing Stance on Cryptocurrency
Stone’s lobbying efforts coincide with Trump’s evolving stance on cryptocurrency, which has seen him become more supportive of the industry while reducing regulatory pressures. The cryptocurrency sector has significantly contributed to Trump’s campaign and inauguration funding. Notably, Trump’s family members are involved in various cryptocurrency-related initiatives, and his administration has previously promoted measures to foster growth within the industry.
Presidential Pardons and the Crypto Community’s Response
Trump has a history of granting pardons to individuals in the cryptocurrency space, including a pardon for a Bitcoin pioneer linked to the Silk Road, an infamous online drug marketplace, and for three founders of the BitMEX exchange who admitted to violating the Bank Secrecy Act. The crypto community has rallied around Ver, with calls for a presidential pardon growing louder, and a recent essay on Stone’s website advocated for this cause.
Stone’s Clarification on His Role
Although Stone previously received a pardon from Trump himself for obstructing a congressional inquiry related to the 2016 campaign, he clarified to The New York Times that he is not using his long-standing relationship with the former president to influence Ver’s situation. In a text message, he stated, “I have not lobbied any official in the executive branch of government including the president regarding his case or a pardon,” emphasizing that his primary role is to provide advice to Ver’s legal counsel.
Legal Arguments Surrounding Ver’s Tax Charges
In legal documents, Ver’s attorneys have described the tax regulations in question as “inscrutably vague” concerning their applicability to digital assets. They are also challenging the constitutionality of the “exit tax,” which mandates that Americans resolve their tax obligations prior to renouncing their citizenship. Prosecutors allege that Ver failed to disclose the value of his Bitcoin assets during the preparation of his expatriation tax filings. Stone has indicated in his lobbying records that he has advocated for the abolition of the exit tax and for reforms in cryptocurrency tax policy, stating that he has engaged with lawmakers about reforming tax laws relevant to expatriation.
