Australian Fintech Finder Beats Regulator in Crypto Yield Case
Key Notes
- An Australian federal court ruled in favour of Finder, stating that its yield program does not breach financial laws.
- The court ruled TrueAUD is not money, but property, so it does not count as a money loan or deposit.
- ASIC’s appeal was rejected, confirming Finder Earn is not a debenture under the Corporations Act.
Australia-based fintech firm Finder has won its legal dispute with the Australian Securities and Investments Commission (ASIC) over its crypto yield product, Finder Earn.
The case, which spanned three years, concluded on July 24, when the court dismissed ASIC’s appeal, effectively upholding the earlier ruling that cleared Finder’s yield-generating product.
The Australian Federal…
