Bitcoin Group, the second bitcoin company to attempt a listing on the ASX, has been forced to release a third supplementary prospectus and delay its float for a fifth time, until mid-January.

The latest change adds to a string of missteps and rebukes from corporate watchdog Australian Securities and Investments Commission.

Samuel Lee is one of the three executive directors of Bitcoin Group, who own 60.6 per cent of the company between them. Credit:Paul Jeffers

The latest stems from Bitcoin Group's second supplement to a replacement prospectus, which put the listing date – then on January 6 – too long after the replacement prospectus was lodged with ASIC on September 4.

Listing rules state that if the listing is more than three months after the prospectus is lodged, the company must return all the money it has raised to investors.