Australia’s High Court has slammed the brakes on Block Earner’s crypto yield play, ruling that the company’s former fixed-return product needed a financial services licence under existing law. High Court ruling: 7-0 for ASIC Earner product: a financial product and a derivative Legal message: crypto doesn’t outrun the rulebook Block Earner now: focused on crypto-backed […]
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Australia’s Regulatory Gambit: Crypto by Function, Not Tech, Sets a New Tone Globally Australia is staking out a distinct position in the chaotic realm of cryptocurrency regulation, choosing a practical, function-driven approach over the tech-obsessed or enforcement-heavy models seen elsewhere. Spearheaded by the Australian Securities and Investments Commission (ASIC), the strategy hinges on defining digital […]
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Australian Crypto Scam: ASIC Charges Four in $35.8M Fraud Crackdown Picture this: you pour your hard-earned savings into a sleek website promising a juicy 9.5% annual return, only to learn it’s a $35.8 million scam. That’s the gut-wrenching reality for victims across 14 countries, as the Australian Securities and Investments Commission (ASIC) charges four men—former […]
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ASIC Appeals to High Court Over Block Earner Crypto Yield Product Ruling The Australian Securities and Investments Commission (ASIC) is taking its fight against fintech company Block Earner to the High Court, challenging the Full Federal Court’s ruling that Block Earner’s “Earner” product is not a financial product under Australian law. This legal battle could […]
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ASIC Seeks High Court Appeal in Landmark Crypto Yield Product Case In a battle that could reshape the future of cryptocurrency in Australia, the Australian Securities and Investments Commission (ASIC) is taking Block Earner’s ‘Earner’ product to the High Court. This move has the potential to set a precedent for how digital assets are regulated, […]
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Australia Cracks Down on Inactive Crypto Exchanges to Combat Scams and Money Laundering In a bold move to combat criminal activities within the cryptocurrency sector, Australia’s financial intelligence agency, the Australian Transaction Reports and Analysis Centre (AUSTRAC), is intensifying its efforts. AUSTRAC is targeting inactive digital currency exchanges, warning them to update their status or […]
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Binance Faces Lawsuit in Australia Over Investor Misclassification The Australian financial watchdog, the Australian Securities and Investments Commission (ASIC), has launched legal action against Binance Australia Derivatives over allegations of incorrectly labeling over 500 regular investors as sophisticated ones. This misstep reportedly deprived investors of crucial legal protections, causing notable financial losses. ASIC’s lawsuit targets […]
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