Australian Federal Court Overturns Ruling Against Crypto Lender Block Earner

Odaily Planet News - The Australian Federal Court overturned the ruling against the cryptocurrency lending institution Block Earner, ordering the securities agency to bear legal costs. It is reported that Block Earner, a Sydney-based fintech startup, engaged in a three-year legal battle with the Australian Securities and Investments Commission (ASIC) over allegedly unauthorized service provision, ultimately ending in victory for the cryptocurrency lending institution, which may set a precedent for future cases. After years of legal disputes, the Australian Federal Court ruled that Block Earner's crypto-based "Earner" product did not violate local financial regulations and approved the company's appeal, dismissing the securities regulator's allegations. The court determined that Block Earner's blockchain-based lending product constitutes a fixed-term loan agreement, rather than a financial investment requiring regulatory permission. (The Block)