The ASX has knocked back technology infrastructure provider Distributed Storage Solutions from a planned IPO, due to concerns about its use of blockchain technology, adding it to a growing list of company’s rejected by the local bourse, with the firm saying it will now head offshore to pursue a Nasdaq listing.

The ASX, which wrote off its own disastrous attempt at leveraging blockchains to speed up its settlement times earlier this year, has been historically hostile towards companies that use the technology, due to the lack of regulatory guidance provided by the Australian Securities and Investments Commission.