Australia’s financial watchdog wins case against BPS Financial, ordering $14 million in penalties for unlicensed operations and misleading crypto-linked product claims. BPS hit with $1.3 million for unlicensed conduct and $8 million for deceptive representations. Court imposes 10-year ban on BPS from financial services business and mandates publication of court notices.

ASIC’s Longo warns of key risk areas for 2026, including opaque private credit, superannuation failures, high-risk investments, AI-related consumer harm, and regulatory gaps in digital assets. In a separate move, ASIC eases licensing rules for stablecoins and wrapped tokens, allowing firms to use omnibus accounts for distribution without separate licenses.

Read more at CoinTelegraph: Court Orders $9.3M Penalty Against BPS Financial Over Qoin Product