Published on October 11th, 2017 | by bitcoin0
ASX forces new ICO Startup
Game maker iCandy Interactive has altered its plans to launch a cryptocurrency following talks with the Australian Securities Exchange (ASX).
According to an ASX announcement, iCandy had planned to develop the token – called “NOX” – itself, as a means to add functionality to a new gaming content marketplace.
However, after a discussion with the ASX, during which iCandy’s securities were suspended from quotation on the exchange, the firm said it has decided to no longer have any role in developing or managing either marketplace or token.
With the ASX potentially considering the activities a change of direction for the firm, iCandy indicated that those efforts will now be undertaken by a separate company, though it will remain the sole game content supplier.
According to Stockhead, the ASX has previously cracked down on companies that change activities without the approval of shareholders.