Again...I defer you to the PHOT case. Now...please tell me why FINRA won't approve. Is it because FINRA has NEVER approved a stock going from the greys to an exchange? You state this definitively absent details of the SEC's concerns and whether the company can adequately address them.
I think we can both agree the SEC's primary issue with BITCF is with the appreciation of their shares and the fact that their primary market is 'crypto-currency'. Nothing else. Heck, the SEC couldn't even site anything beyond their concern of stare structure and assets...which is another word for 'BS'. Tell me what pink sheet company actually has substantial assets while they print their paper endlessly.