| Cryptocurrency | Price (USDT) |
|---|---|
| BTC | $107316.0900000000 |
| ETH | $2435.0800000000 |
| BNB | $646.0592300000 |
| XRP | $2.1956430000 |
| ADA | $0.5631119000 |
| SOL | $149.1738000000 |
| DOGE | $N/A |
| DOT | $3.3723500000 |
| LTC | $86.9320000000 |
| LINK | $13.2466200000 |
Category: CRYPTO NEWS
The post ASIC appeals to high court over Block Earner crypto yield product ruling appeared on BitcoinEthereumNews.com. Australia’s corporate regulator, the Australian Securities and Investments Commission (ASIC), has applied for special leave to appeal to the High Court of Australia following a Full Federal Court decision that favored fintech firm Block Earner. The case centers on Block Earner’s “Earner” product, a fixed-yield crypto investment offering that ASIC contends operates as an unlicensed financial product. ASIC says it is asking the High Court of Australia to clarify what falls within the definition of a financial product to shed light on digital assets and interest-earning options. In its statement, the regulator emphasized that the definition of a financial product was designed to be broad and technology-neutral. ASIC believes that interpreting this definition should be guided by the public interest. The ruling may change how crypto and other digital financial services are subject to Australian law. ASIC insists there is a problem with crypto and regulatory predictability for the broader financial sector. Block Earner defends its product and integrity Block Earner has welcomed the Federal Court’s decision. On April 22, Federal Court Justices David O’Callaghan, Wendy Abraham, and Catherine Button found that Block Earner’s crypto-linked fixed-yield earning product is not a financial product, a managed investment scheme, or a derivative under the Corporations Act. A spokesperson for the Block Earner said it still had confidence that the clear and robust judgment delivered by the Full Federal Court in April had been based on the facts and law of the matter and had shown that its operations were sound. They also said they remain convinced that the ruling was correct. “We believe the Full Federal Court’s April ruling was a strong and well-reasoned decision that upheld the integrity of our operations,” the spokesperson said. “We remain confident in the soundness of that judgment and will respond to ASIC’s application through the appropriate…
2025-05-22T03:41:33+00:00