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Bitcoin Group Scolded by Regulator After IPO Statements
Updated Sep 11, 2021, 11:31 a.m. Published Feb 13, 2015, 12:46 p.m. 1 min read
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The Australian Securities and Investments Commission (ASIC) has banned a bitcoin company from issuing statements on its proposed initial public offering (IPO) until a formal prospectus has been lodged.
The ban was imposed following a post by Melbourne-based Bitcoin Group on social media platform Wechat to gauge interest from investors if the company were to be listed on the Australian SecuritiesExchange (ASX).
ASIC commissioner John Price said:
"ASIC will often review pre-prospectus advertising or publicity to ensure legal requirements are being met. This is because any statements made about potential offers may influence the investment decisions of consumers who will not have the benefit of all material information that would be included in a prospectus."
The commissioner said companies should be fully aware of their obligations regarding advertising and publicity prior to an IPO.
"If they do not observe these requirements, then ASIC will take necessary action so that investment decisions are made in a confident and fully informed environment,” he added.
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U.K. authorities sanctioned HTX, saying there were "reasonable grounds to suspect" the crypto exchange was helping Russia by cooperating with ruble stablecoin A7A5.
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- Britain sanctioned the issuer of the ruble-linked A7A5 stablecoin and says it had reasonable grounds to suspect the HTX crypto exchange assisted the project.
- Both HTX and A7A5 executive Oleg Ogienko said the exchange rejected A7A5’s listing application, as did other centralized exchanges concerned about secondary sanctions.
- Ogienko insisted A7A5...
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