ASIC’s move signals a broader attempt to clarify the legal definition of financial products as crypto adoption grows. The High Court has yet to set a date for the application hearing.

Block Earner Case Tests Boundaries of Financial Licensing Laws
The case centers on Block Earner, a Sydney-based fintech operating under Web3 Ventures Pty Ltd. Between March and November 2022, it offered two yield-generating products, “Earner” and “Access.”

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