The 58-year-old faces 16 charges and had his matter briefly mentioned in Sydney's Downing Centre Local Court on Thursday after being granted bail in March.

Foster is accused of posing as a man called Bill Dawson and extricating 120 Bitcoin from his alleged victim in 2019 and 2020.

He allegedly secured about $US1.141 million ($A1.73m) in January 2020, when the last transaction was said to have occurred.

Foster is charged with five counts of publishing false or misleading material to obtain an advantage, 10 counts of dishonestly obtaining financial advantage by deception and knowingly dealing with proceeds of crime with intent to conceal.

Following his arrest in August 2020 in far north Queensland he was extradited to Sydney where he forfeited his passport.

To secure bail a surety of $180,000 was ordered along with other conditions that he wears an electronic monitoring device, live at a Dover Heights address and not access the internet or posses a mobile phone.

NSW Chief Magistrate Graeme Henson ordered Foster to appear at his next court date scheduled for May 20.

Australian Associated Press