Australia: Australian Securities and Investments Commission lawsuit against Block Earner for allegedly offering unlicensed crypto product
Progress
Current status
in force
22 Apr 2025 in force
04 Jun 2024 in force
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
Full Court of the Federal Court issued ruling in ASIC lawsuit against Block Earner for allegedly offering unlicensed crypto product overturning previous ruling
On 22 April 2025, the Full Court of the Federal Court of Australia dismissed the Australian Securities and Investments Commission (ASIC)’s lawsuit against Block Earner, operated by Web3 Ventures Pty Ltd, concerning its fixed-yield crypto product, Ea…
Event type
public lawsuit
Action type
ruling
Government branch
judiciary
Government body
court
Issued Federal Court ruling in ASIC lawsuit against Block Earner for allegedly offering unlicensed crypto product
On 4 June 2024, the Federal Court of Australia issued a ruling concerning Block Earner's alleged provision of unlicensed financial services through its crypto-related product, Earner. The Court noted that between March and November 2022, Block Earne…
Event type
public lawsuit
Action type
ruling
Government branch
judiciary
Government body
court