A man charged by US prosecutors for operating bitcoin exchange service Coin.mx without a money transmission license has been released on bail.

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, Anthony Murgio's bail was set at $100,000 by US Magistrate Judge James Frances.

Murgio's bail terms also state he must not communicate with anyone associated with Coin.mx. Originally from Florida, Murgio's bail term will enable him to travel around New York and his home state to look for employment while he awaits trial.

Murgio was arrested alongside Yuri Lebedev on 21st July. They were charged with one count of conspiracy to operate an unlicensed money transmitting business and one count of operating an unlicensed money transmitting business.

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Additionally, Murgio faces charges of one count of money laundering and one count of wilful failure to file a suspicious activity report. If convicted, he faces a maximum of 20 years in prison.

According to the New York Times, Lebedev has been released on a $25,000 bond.

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