Overview

• Roger Ver, an early bitcoin investor, was arrested in Spain on charges of evading $48 million in taxes.
• Ver allegedly provided misleading information to tax preparers and undervalued his bitcoin holdings.
• The indictment claims Ver failed to report capital gains from the sale of bitcoins after renouncing U.S. citizenship in 2014.
• U.S. authorities are seeking extradition of Ver to face charges including mail fraud and filing false tax returns.
• Ver's arrest highlights increased U.S. scrutiny of tax evasion in the cryptocurrency sector.