Australia’s Regulator Seeks High Court Review of Block Earner Ruling

Australia’s financial regulator, the Australian Securities and Investment Commission (ASIC), will seek permission from the High Court to challenge a lower court ruling that favored fintech firm Block Earner. The Federal Court ruled that Block Earner’s crypto-linked fixed-yield earning product does not constitute a financial product under Australian law. 2024. This decision could significantly impact the regulatory landscape for similar crypto products in Australia.