Australian Court Upholds Fintech Victory: Overrules License Requirement for Block Earner’s Crypto Product

In a landmark legal victory for Australia’s cryptocurrency and fintech industry, the Federal Court has overturned a previous ruling that required digital finance firm Block Earner to obtain a financial services license for its discontinued fixed-yield crypto product. The court ruled that Block Earner’s offering does not meet the legal definitions of a financial product, derivative, or managed investment scheme under Australia’s Corporations Act.