Prominent Bitcoin investor Roger Ver has been arrested in Spain for alleged tax evasion related to $240 million in Bitcoin sales.

Ver is accused of not reporting these sales to his accountant and evading $48 million in taxes owed to the IRS.

After renouncing his U.S. citizenship in 2014, Ver now faces potential extradition to the United States.

The charges could lead to a maximum of 20 years in prison for each mail fraud count, 5 years for each tax evasion count, and 3 years for each false tax return count.

Ver's arrest has caused a stir within the cryptocurrency community online.