Australian Court Backs Block Earner in Case Against ASIC
Reading Time: < 1 minute
The Full Federal Court of Australia has ruled in favor of crypto lender Block Earner, overturning earlier findings that its discontinued “Earner” product was a regulated financial product requiring a license.
The court dismissed an appeal from the Australian Securities and Investments Commission (ASIC), which sought to impose penalties on Block Earner. The regulator has been ordered to cover all legal costs, including those from the original trial.
This ruling completely overturns previous findings that the company violated financial laws. In a press statement, ASIC stated it is “considering this decision.”
Follow and like us on
