Bitcoin Group delays public listing on Australian Stock Exchange


The Bitcoin Group has delayed its public listing on the Australian Stock Exchange in order to provide further information about the currency to the exchange.

The company has been seeking to become the second listed bitcoin entity in Australia. But the crypto currency operators have faced a series of setbacks and have now reportedly had six delays to the listing.

Bitcoin is a form of digital currency that involves complex computer processing in order to generate more currency, in a processing known as “mining”. The Bitcoin Group is a company, founded by the Australian Sam Lee, as well as Ryan Xu and Allan Guo, that mines bitcoin and provides services to investors who are interested in the currency.

Bitcoin Group told investors on Friday in a statement to confirm the company had raised approximately $5.9m for the listing that it would inform investors of when it would be listed.

“Investors will appreciate that ‘block chain’ is a new technology and we are working with ASX to satisfy its request for additional information as part of the listing application process,” the email to investors said.

“We intend to keep investors fully appraised of this process and proposed listing date.

“In the meantime, the directors wanted to take the opportunity to thank you again for your patience and, of course, for your support of our IPO.”

In 2014 digitalBTC became the first bitcoin company to be listed on the ASX.

The digital currency has steadily become more popular in Australia but regulators and government agencies are still attempting to come to terms with how it operates.

The Australian Tax Office has been grappling with how best to treat the currency for taxation purposes.

Powered by article was written by Paul Farrell, for on Monday 8th February 2016 02.48 Europe/London

Baffled by bitcoin? Confused by the concept of crypto-currencies? Well, fear no more. In 190 seconds we explain what bitcoin actually is, where the idea came from and the impact it’s having around the world. © Guardian News and Media Limited 2010


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