Australian Securities Regulator Puts Brakes on Bitcoin IPO

An Australian cryptocurrency firm is facing fresh delays on its road to debuting on the Australian Securities Exchange.

AccessTimeIconJul 22, 2015 at 8:16 p.m. UTC
Updated Sep 11, 2021 at 11:47 a.m. UTC

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 "misleading or deceptive" content, omit any required information or are subject to pending revision following entry.

ASIC initially extended the exposure period on 6th July before issuing the interim stop order one week later.

Bitcoin Group received a public scolding by ASIC in February after the company used social media channels to garner interest in its anticipated stock offering. At the time, the regulator said that the company must file a prospectus before such statements could be made. Bitcoin Group announced that it had filed its prospectus on 29th June.

ASIC and Bitcoin Group did not immediately respond to requests for comment.

Hat tip to LeapRate

Stop sign image via Shutterstock

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