Hong Kong exchange regulator is reportedly reluctant to permit Bitcoin mining instrumentation manufacturer Bitmain to conduct an initial public offering (IPO) within the town. local English-language newspaper South China Morning Post (SCMP) created this claim in an article published Dec. 19, with relation to anonymous sources.

Citing 2 “sources familiar with the matter,” SCMP poured more cold water on the plans of mining giant Bitmain to travel public, simply a day once the city securities market (HKEX) told Top Market Group that any hesitation on a part of the corporate was “rumors.”

According to the publication’s sources, city’s exchange regulator thinks it's “premature for any cryptocurrency trading platform – or business related to the industry – to lift funds through an IPO in Hong Kong before the right regulative framework is in place.”

As a result, SCMP suggests, current conditions “could be an insurmountable hurdle” for Bitmain and alternative cryptocurrency corporations aiming to launch an IPO.

Controversy has encircled the mining giant’s IPO plans ever since rumors concerning them leaked into the community earlier this year.

Various factors — like alleged poor sales — have already contributed to doubts concerning the probability that the IPO are going to be flourishing.

HKEX in the meantime continual its refusal to touch upon the Bitmain case once queried by SCMP.

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