Australia: Federal Court of Australia issued interim injunctions against NGS Crypto regarding operation of unlicensed financial services business
Description
Federal Court of Australia issued interim injunctions against NGS Crypto regarding operation of unlicensed financial services business
On 9 September 2024, the Federal Court of Australia issued interim injunctions against the NGS companies, which include NGS Crypto, NGS Digital, and NGS Group Limited, prohibiting them from further operating or promoting their blockchain mining prod…
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
Hide details
2024-04-09
under deliberation
2024-09-09
under investigation