From CoinTelegraph

April 22, 2025 10:58:00 PM:

The Federal Court of Australia ruled in favor of fintech firm Block Earner, stating its crypto-linked fixed-yield product does not require a financial services license. ASIC has been ordered to pay legal costs, and Block Earner will not revive its Earner product. The company’s focus remains on crypto-backed loan products.

Block Earner’s Chief Commercial Officer, James Coombes, emphasized that crypto assets should not be treated differently when applying existing laws. The court decision brings clarity for ambitious brands in Australia. ASIC declined further comment on the matter. Despite the court win, Block Earner will not bring back the Earner product but will continue to focus on crypto-backed loan products.

ASIC initially launched civil legal proceedings in November 2022, arguing that Block Earner needed an Australian Financial Services License. The court initially found in February 2024 that a license was required, but a June 2024 ruling released Block Earner from financial penalties. The SEC’s recent actions have left key questions unanswered in the crypto space.

Read more at Cointelegraph: Australia’s top court sides with Block Earner, dismisses financial regulator’s suit