In brief
- The Full Federal Court of Australia ruled that Block Earner’s crypto lending product was a fixed-term loan arrangement, not a financial product.
- An appeal from the regulator ASIC to impose penalties on Block Earner was dismissed.
- The decision sets a precedent for regulating crypto under existing Australian financial laws.
The Full Federal Court of Australia ruled in favor of crypto lender Block Earner on Tuesday, overturning previous findings that its discontinued “Earner” product constituted a regulated financial product requiring licensing.
An appeal from the Australian Securities and Investments Commission (ASIC) to impose penalties on Block Earner was dismissed, with the regulator ordered to pay full legal costs, including…
Apr 26 2025
