ASIC Seeks High Court Ruling on Crypto Yield Products After Block Earner Win

Australia’s corporate regulator is escalating its legal battle over the classification of digital asset yield products. The Australian Securities and Investments Commission (ASIC) is seeking special leave from the High Court to appeal a Federal Court decision that favored crypto firm Block Earner.

The Core dispute centers on whether interest-earning and asset conversion crypto products should be regulated as financial products under the Corporations Act. This comes after the Federal Court ruled Block Earner’s fixed-yield offering didn’t qualify as a financial product under existing legislation.

The case represents a pivotal moment for Australia’s crypto regulatory framework. A High Court ruling could establish precedent for how yield-generating digital asset products are treated under Australian law, potentially affecting numerous crypto businesses operating in the jurisdiction.