A bitcoin trader was sentenced to 366 days in prison for operating an unlicensed money services business.

Sal Mansy was apprehended in June 2015 for channeling bitcoin transactions through his corporation called TV TOYZ.

Mansy completed $2.4 million-worth of bitcoin transactions over two years, according to a press release from the U.S. Attorneys office in Maine.

Mansy pleaded guilty to buying bitcoin through the Coinbase and Bitstamp exchanges, and selling the cryptocurrency at a profit through LocalBitcoins.

The investigation was conducted by the Portland, Maine and Detroit, Michigan offices of U.S. Immigration & Customs Enforcement’s Homeland Security Investigations; and the Saco Police Department.

“It is against federal law for a money-service business to exchange or transfer bitcoin without registering. “Mansy was aware that he was required to register with FinCEN,” the release read.

After spending time in jail, Mansy will also have three years of supervised release.

He must also forfeit $118,000 in cash and bitcoin acquired through the illegal plot.

Investigators seized that amount during his arrest back in 2015.

Investigators completed two trades with Mansy for a total of 6.32 BTC – an amount assessed at $1,900 at the time and now valued at almost $75,000.

The case is part of a number of arrests for operating illegal business operations using bitcoin.

In October, Michigan resident, Bradley Stetkiw, was incriminated with operating an unregistered money transmitting business after selling some $150,000 in bitcoin.

Stetkiw also utilized LocalBitcoins to complete his transactions, and federal agents bought $56,000 worth of bitcoin from him during the operation.

Missouri resident Jason Klein also pleaded guilty to overseeing an unlicensed money transmission business in May, after he sold 98 bitcoins to undercover agents in 2015 and 2016.