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ARTICLE · 11 MARCH 2015

Update: ASIC issues stop order on pre-prospectus advertisements by Bitcoin company.

ASIC's steps are a reminder that these pre-prospectus advertising restrictions apply across all communication platforms.

AustraliaFinance and Banking

You can buy just about anything with Bitcoin these days. From Dirty Dancing sloth shower curtains (Target), to books like 'Dating White Women: A Practical Guide for Asian Men' (Amazon). You can even secure a spot on Virgin Galactic (I know, space travel - but when you've got a Dirty Dancing sloth shower curtain, you lead with the curtain).

What about using virtual currency to pay ASIC fines? Unfortunately ASIC doesn't accept Bitcoin. Well not yet, as the captains of the Bitcoin industry would prefer it to be said. Still, the operators of Bitcoin Group Limited might have been asking the same question when they were issued with a stop order by the corporate regulator recently. They got ASIC's attention when they published statements on the social media app WeChat in relation to their intention to make an initial public offering (IPO) before the lodgement of a prospectus.

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