Australian Regulator Blocks IPO Bitcoin Mining Company
By issuing a stop order, the Australian Securities and Investment Commission (ASIC) has further stalled the initial public offering (IPO) requested by Bitcoin mining company Bitcoin Group Limited (BGL, or simply: Bitcoin Group). The reason for this stop order is as of yet not known. A stop order is an administrative mechanism that allows ASIC to prevent offers being made under a disclosure document, which is presented to prospective buyers of Bitcoin Group shares. Such a measure can be taken when ASIC believes the IPO contains a misleading statement, requires additional information, or if....
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An Australian cryptocurrency firm is facing fresh delays on its road to debuting on the Australian Securities Exchange. Australia's chief securities regulator, the Australian Securities and Investment Commission (ASIC), has issued an interim stop order on the investment prospectus submitted by Bitcoin Group Ltd for undisclosed reasons. According to the ASIC's website, such orders may be issued if any documents submitted contain
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The Australian Securities and Investment Commission (ASIC) recently barred Bitcoin Group Limited from making public statements about its initial public offering. The news hit the glare when the aforementioned Melbourne-based Bitcoin mining startup was found to have sought investment from Chinese investors while citing 'half-baked' plans to get listed on Australian Stock Exchange. According to the ASIC, the company was publicizing its IPO even before complying with the existing obligations. "The publications were made before Bitcoin Group was registered as an Australian company by ASIC and....