Bitcoin Group Delayed Public Listing in AustraliaAdded: Saturday, February 13th, 2016
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The recent news from Australia revealed that Bitcoin Group decided to delay its public listing on the local stock exchange. The company is going to provide further information about the cryptocurrency to the exchange. The Bitcoin Group has been trying to become the 2nd listed Bitcoin entity in the country, but has faced some obstacles and has now reportedly had 6 delays to the listing.
As you know, Bitcoin is a form of digital currency, most commonly called “cryptocurrency”, which involves computer processing for currency generation, better known as “mining”. Bitcoin Group was founded by three Australians and is involved in mining Bitcoins and providing services to investors interested in the cryptocurrency. The company notified its investors that it had already raised about $5.9 million for the listing on the Australian Stock Exchange and promised to inform them of when it would be listed.
Bitcoin Group explained that its investors would appreciate that “block chain” is an innovative technology, and it therefore has to work with the Australian Securities Exchange to satisfy its request for clarification of the technology within the listing application process. The directors of the company also thanked the investors for their patience and support of the company’s IPO in the email sent out to the investors.
Two years ago, digitalBTC became the first Bitcoin company to be listed on the Australian Securities Exchange, now Bitcoin Group is trying to repeat its success. The industry observers note that the cryptocurrency has steadily become more popular in the region, but regulators and government agencies still haven’t come to terms with how it works, and even the Australian Tax Office can’t grapple with how best to treat Bitcoin for taxation purposes.
Saturday, February 13th, 2016
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