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Australian Court Exempts Block Earner from Penalty in Lawsuit for Unlicensed Crypto Yield Offering

Australian Court Exempts Block Earner from Penalty in Lawsuit for Unlicensed Crypto Yield Offering

Bitget2024/06/04 06:08

Golden Finance reported that the Australian Federal Court exempted the fintech company Block Earner from a fine after the court ruled that the company provided a cryptocurrency income product without a financial services license. On June 4, Judge Ian Jackman ruled that Block Earner "acted honestly" and did consider obtaining a license when its income product "Earner" was launched, but its research and legal advice showed that it did not need a license. BlockEarner founder and CEO Charlie Karaboga said that obtaining legal advice before launching the product "shows that we acted honestly and did everything we could as a startup.

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