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Block Earner Wins Appeal: No Financial Services Licence Needed
Block Earner Wins Appeal: No Financial Services Licence Needed
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Australia’s Full Federal Court has ruled in favor of Block Earner, overturning a lower court decision that had classified the company’s ’Earner product’ as a financial product requiring licensing. The reversal marks a significant win for the crypto firm, which had appealed an earlier Federal Court ruling backed by the Australian Securities and Investments Commission (ASIC). Web3 Ventures Pty Ltd, trading as Block Earner, faced allegations of offering unlicensed crypto products—a claim now nullified by the higher court’s decision. The judgment underscores ongoing regulatory tensions in Australia’s digital asset space, where the line between innovative financial services and tradable securities remains contested.
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