Australia: Federal Court of Australia issued ruling in lawsuit against NGS Crypto regarding operation of unlicensed financial services business
Description
Federal Court of Australia issued ruling in lawsuit against NGS Crypto regarding operation of unlicensed financial services business
On 18 December 2025, the Federal Court of Australia issued a ruling in a case brought by the Australian Securities and Investments Commission (ASIC) against the NGS companies, which include NGS Crypto, NGS Digital, and NGS Group Limited. The Court f…
Scope
Policy Area
Authorisation, registration and licensing
Policy Instrument
Operational license requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
judiciary
Government Body
court
Complete timeline of this policy change
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2024-04-09
under deliberation
2024-09-09
under investigation