Bitcoin Group Limited Run Afoul Of ASIC

The Australian Securities and Investments Commission today issued a stop order upon Bitcoin Group Limited which prohibits the company from making any further statements about its much discussed yet yet to surface IPO.

Concerns raised by ASIC include the Bitcoin Group soliciting for investors predominately from the Chinese community prior to registering as an Australian company. ASIC also made it clear that the stop order is specific to the Bitcoin Group and not Bitcoin itself, adding that to date no fundraising documents have been submitted to ASIC by Bitcoin Group.

CEO of Bitcoin Group, Sam Lee, appeared last year on CNBC where he discussed his IPO dreams and explained how he fell for a social engineering attack that resulted in the theft of 100 BTC from the company

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