Australian Court Rules in Favor of Finder.com’s Crypto Yield Product

Australia's Federal Court delivered a landmark ruling for the fintech sector, siding with Finder.com in its protracted legal battle with the Australian Securities and Investments Commission (ASIC). The verdict confirms Finder Earn—a now-discontinued yield product—operated within regulatory bounds, marking the first judicial test of debenture laws in a cryptocurrency context.

Between February and November 2022, Finder Earn allowed users to convert AUD into TrueAUD stablecoins, earning 4-6% annual interest through the Finder Wallet platform. The court upheld an earlier decision that the product didn't qualify as a financial instrument under local laws, despite ASIC's appeal.

"This vindicates innovation while maintaining consumer protections," said Finder founder Fred Schebesta, framing the outcome as a precedent for emerging crypto investment vehicles. The service successfully returned all user funds—over 500,000 TAUD ($336,000)—upon termination.