3 weeks ago
The Australian Securities and Investments Commission (ASIC) is seeking permission to entreaty a High Court determination that fintech institution Block Earner's Access merchandise is not a fiscal product.
The High Court successful March 2024 dismissed ASIC's allegations that Block Earner had engaged successful unlicensed fiscal services by offering its decentralized concern (DeFi) merchandise Access.
ASIC is seeking clarification connected however a fiscal merchandise is defined which it feels should use to each products whether they impact cryptocurrency oregon not.
"The High Court volition see ASIC’s exertion connected a day to beryllium determined," ASIC said successful an announcement connected Wednesday.
The Court gave a divided determination implicit ASIC's lawsuit against Block Earner past year, upholding the assertion that it had engaged successful unlicensed fiscal services with its Earner merchandise portion dismissing the allegations against Access.
Block Earner, which has backing from crypto speech Coinbase, was nevertheless freed from its $350,000 Earner-related good by the Court successful June, which ASIC besides appealed. This was yet resolved successful April this twelvemonth with ASIC's entreaty dismissed.
Read more: Australian Judge Hands Split Decision successful Market’s Regulator vs Block Earner
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