[2015-07-25] CT - Australian Regulator Blocks IPO Bitcoin Mining Company

[tyz]

By issuing a stop order, the ASIC has further stalled IPO requested by Bitcoin mining company Bitcoin Group Limited.

http://cointelegraph.com/news/114961/australian-regulator-blocks-ipo-bitcoin-mining-company

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[kjlimo]

Oh the irony that ASIC stands for the Austrailian Securities... Haha.

[TraderTimm]

"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 a new circumstance has come up since the disclosure document was lodged. It is unclear why Bitcoin Group was issued a stop order."

A Bitcoin-based company not up to snuff on procedure?! How impossible!

Seriously though, this seems to be a business requirement issue, not that they're a Bitcoin-based enterprise. They have a hearing soon, if they can straighten it all out, then they'll get their IPO. Not really newsworthy, more like a filing red-tape report.