Crypto mining chip-maker Bitmain lets HK IPO application lapse

Bitmain Technologies Inc. application specific integrated circuit (ASIC) units sit on a shelf inside the DMM Mining Farm, operated by DMM.com Co., in Kanazawa, Japan, on Tuesday, March 20, 2018. Japan is moving toward legalizing initial coin offerings, even as countries such as China and the U.S. restrict the fundraising technique because of their risks for investors. A government-backed study group laid out basic guidelines for further adoption of ICOs, according to a report published on April 5. Photographer: Tomohiro Ohsumi/Bloomberg