Bitcoin
$41,872.92-4.34%
Ethereum
$2,905.38-6.32%
XRP
$0.927992-3.90%
Cardano
$2.12-4.61%
Polkadot
$27.64-5.40%
Stellar
$0.262738-5.49%
Dogecoin
$0.200286-2.93%
Uniswap
$24.32-0.45%
Chainlink
$23.40-3.84%
Polygon
$1.08-4.43%
Algorand
$1.65-8.43%
Cosmos
$36.22-6.90%
Litecoin
$146.20-4.25%
Bitcoin Cash
$489.04-3.49%
Wrapped Bitcoin
$41,868.10-4.47%
The Graph
$0.656634-7.33%
Filecoin
$57.43-7.14%
Tron
$0.085305-4.93%
Ethereum Classic
$45.70-3.51%
Tezos
$6.03-6.23%
Aave
$270.16-8.86%
Monero
$234.73-4.12%
NEO
$37.41-5.07%
EOS
$3.83-4.55%
IOTA
$1.12-6.19%
BitTorrent
$0.003068-4.84%
Waves
$24.29-0.45%
Bitcoin SV
$128.70-1.17%
Maker
$2,333.83-2.98%
Dash
$154.56-5.07%
Decentraland
$0.653718-7.50%
OmiseGO
$9.65+6.22%
Decred
$100.95-9.51%
ICON
$1.46-9.56%
NEM
$0.139707-6.72%
Zcash
$105.49-5.83%
Paxos Standard
$0.999991-0.01%
Yearn Finance
$29,158.93-4.13%
NuCypher
$0.266190-4.93%
Ren
$1.00-7.55%
Bitcoin Gold
$52.41-0.93%
Qtum
$9.12-6.70%
Basic Attention Token
$0.598787-6.72%
0x
$0.846665-8.20%
Fetch.ai
$0.714236-11.78%
Kava.io
$5.41-8.66%
Bancor
$3.39-4.80%
Band Protocol
$7.08-7.39%
Siacoin
$0.014085-6.54%
Nano
$4.23-5.53%
Loopring
$0.364318-4.73%
Numeraire
$40.35-3.20%
Storj
$1.02-7.54%
Civic
$0.407213-6.78%
Lisk
$2.70-4.69%
PAX Gold
$1,743.68-0.73%
Orchid
$0.302499-5.55%
Enzyme
$138.50-5.87%
Augur
$20.20-2.29%
Aragon
$4.36-7.43%
district0x
$0.142399-6.19%
Kyber Network
$1.38-8.16%
SingularDTV
$0.001195+0.72%
Tether
$1.00-0.00%
USD Coin
$1.00+0.04%
Dai
$1.00-0.04%
Breaking news: Ethereum Developer Virgil Griffith Pleads Guilty to Conspiracy Charge in North Korea Sanctions Case

Bitcoin Miner Faces New Pressure from Australian Regulator

Australian bitcoin firm Bitcoin Group is hiring a bitcoin expert after the country's top regulator raised concerns about its forthcoming IPO.

Nov 23, 2015 at 5:51 p.m. UTC
Updated Sep 11, 2021 at 12:00 p.m. UTC

Australian bitcoin firm Bitcoin Group is hiring a bitcoin expert after the country's top regulator raised fresh concerns amid the firm's bid to launch an initial public offering (IPO).

filed its second supplementary prospectus on Friday, 20th November, a move that pushed the firm’s IPO closing date to 8th January of next year.

According to the company, the Australian Securities and Investment Commission (ASIC) has prompted the firm to hire "an appropriately qualified independent expert" who, according to the note, will:

"...respond to issues raised by ASIC concerning the Replacement Prospectus including how the Bitcoin industry operates, [and] the variables underpinning the Bitcoin Mining Equation...and its impact on BCG, and information setting out future performance of BCG. BCG is appointing an independent expert to prepare a report in relation to these matters.”

Bitcoin Group has been required by ASIC to file new documentation over the past few months and has been scolded publicly amid its IPO push, which has seen delays in the past.

Bitcoin Group, based in Melbourne, operates its own bitcoin mine and claims to possess as much as 6 petahash in capacity. It previously focused its efforts on bitcoin trading.

Neither ASIC or Bitcoin Group responded to requests for further comment as of press time.

Paperwork image via Shutterstock 

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Loading...