The Federal Court of Australia ruled in favor of Block Earner, asserting that its crypto-linked fixed-yield products are not financial products or investments. The court stated that user contributions were loans with fixed terms, not pooled funds.
ASIC has been ordered to pay legal costs and is currently evaluating the court’s decision. Despite the legal victory, Block Earner will not revive its previously offered products but will continue its focus on crypto-backed loans.
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