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Australian Court Rules in Favor of Crypto Lender Block Earner
Australian Court Rules in Favor of Crypto Lender Block Earner
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The Australian Full Federal Court dismissed an appeal from ASIC, which sought to punish Block Earner for its unlicensed ’Earner’ product. The court found that the product did not meet the legal definitions required to be deemed a financial product under Australian law. ASIC is considering this decision and has not yet ventured the matter to the High Court. The ruling is a setback for ASIC, which has increased its oversight of cryptocurrency products and platforms in Australia.
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