Australia: ASIC lawsuit against Finder Wallet over alleged offer of unlicensed its crypto-asset-related product
Progress
Current status
concluded
14 Mar 2024 concluded
15 Dec 2022 under deliberation
Scope
Implementers
Australia
Policy Area
Authorisation, registration and licensing
Policy Instrument
Operational license requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
judiciary
Government Body
court
Implementation Level
national
Timeline of events
Issued ruling dismissing ASIC lawsuit against Finder Wallet over alleged offer of unlicensed its crypto-asset-related product
On 14 March 2023, the Australian Federal Court dismissed a lawsuit brought by the Australian Securities and Investments Commission (ASIC) against Finder Wallet. The lawsuit alleged that Finder's yield-bearing product, Finder Earn, was an unlicensed …
SourceEvent type
public lawsuit
Action type
closure
Government branch
judiciary
Government body
court
Announced ASIC lawsuit against Finder Wallet
On 15 December 2022, the Australian Securities and Investments Commission (ASIC) announced the commencement of civil penalty proceedings in the Federal Court against Finder Wallet. The company is accused of providing unlicensed financial services, b…
SourceEvent type
public lawsuit
Action type
announcement
Government branch
judiciary
Government body
court