Australian Court Exempts Block Earner from Penalty in Lawsuit for Unlicensed Crypto Yield Offering
The Federal Court of Australia has waived fines against the fintech company Block Earner, which was previously found to have offered a cryptocurrency income product without a financial services license. On June 4th, Judge Ian Jackman ruled that Block Earner acted honestly and did consider obtaining a license when launching its income product "Earner", but its research and legal advice suggested that a license was not necessary. Charlie Karaboga, the founder and CEO of BlockEarner, stated that they obtained legal advice before launching the product, "demonstrating that we acted honestly and did everything a startup company could do."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Could the U.S. Election Be the Key to Bitcoin’s Next Big Surge?
Base is meeting builders around the world
Bitfarms, Riot settle dispute with board changes
Digital Asset, DTCC complete collateral tokenization pilot