
The Australian federal court relieved Block Earner from paying a penalty in the local financial regulator’s legal action over unlicensed crypto yield-bearing products.
Australia’s federal court has relieved fintech firm Block Earner from paying a fine despite the court finding it offered a crypto yield-bearing product without a financial services license.
Justice Ian Jackman ruled on June 4 that Block Earner “acted honestly,” and at the time its yield-bearing “Earner” product launched, it did consider getting licensed, but its research and legal advice concluded it didn’t need one.
Block Earner founder and CEO Charlie Karaboga told Cointelegraph that getting a legal opinion before it launched the product “showed that we acted honestly and did everything that we could do as a startup.”
Authorities have seized over $41 million from a blockchain mining group in Australia for allegedly operating without a license. According to a new press release by the Australian Securities and Investments Commission (ASIC), civil actions are being taken against the NGS Crypto, NGS Digital and, NGS Group, as well as their respective directors, Brett Mendham, […]
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