Australian Securities Regulator to Appeal High Court's Decision on Block Earner
The Australian Securities Regulator, ASIC, is seeking to challenge the High Court's ruling related to the legal battle with Block Earner over its DeFi product Access.
ASIC's Legal Battle with Block Earner Continues
The legal saga between the Australian Securities Regulator (ASIC) and Block Earner is far from over as ASIC announces its intention to appeal the High Court's decision regarding allegations surrounding Block Earner's DeFi offering, Access.
In March 2024, the High Court dismissed ASIC's claims that Block Earner had conducted unlicensed financial services through its DeFi product, which marked a major turning point in the case.
Block Earner's Access DeFi product has been at the center of controversy and regulatory scrutiny, with ASIC maintaining that it falls under the purview of financial regulations.
ASIC's decision to appeal the High Court's ruling indicates the regulator's continued commitment to holding Block Earner accountable for its actions and upholding financial regulations within the rapidly evolving crypto landscape.
Stay tuned as the legal battle unfolds and the implications for the DeFi sector become clearer.