Spanish authorities have arrested entrepreneur and cryptocurrency proponent John McAfee, according to an announcement by the US Department of Justice (DoJ) on October 5. The DoJ levied charged of tax evasion against McAfee, while the US SEC separately filed a lawsuit against McAfee for securities violation.

• McAfee has been arrested in Spain, having been indicted for tax evasion and willful failure to file tax returns by the DoJ
• The statement from the DoJ states that McAfee had earned millions in promoting cryptocurrencies and via other industry offers, and had failed to report this during the period of 2014 - 2018
• McAfee, who has so far managed to avoid being extradited by US authorities, is currently waiting for extradition in Spain
• Should he be convicted, he would face up to five years in prison on each count of tax evasion and a maximum of one year for each count of failure to file taxes; if convicted of all charges, McAfee would face 30 years in prison
• Meanwhile, the United States Securities and Exchange Commission has also sued McAfee for promoting ICOs; the SEC is looking at civil penalties
• This is the second high-profile lawsuit in recent days, with BitMEX and its executives also being sued by US authorities