Roger Ver, an early investor in cryptocurrency known as "Bitcoin Jesus," has agreed to pay $50 million to resolve US tax charges, the Justice Department said Tuesday.
Ver renounced his US citizenship in 2014 and took up residence in the Caribbean island St Kitts and Nevis.
Ver failed, however, to fully report his bitcoin holdings to the US tax authorities at the time of his expatriation and was indicted on federal tax charges.
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Under a deferred prosecution agreement, he agreed to pay $50 million in back taxes, penalties and interest, the Justice Department said.
"We are pleased that Mr Ver has taken responsibility for his past misconduct and satisfied his obligations to the American public," Associate Deputy Attorney General Ketan Bhirud said in a statement.
"This resolution sends a clear message: whether you deal in dollars or digital assets, you must file accurate tax returns and pay what you owe."
SpaceX and Tesla founder Elon Musk said earlier this year that he was exploring a pardon for Ver from President Donald Trump.
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