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
Fermion Protocol Redefines Luxury Ownership with $1M Dolce & Gabbana Glass Suit Fractionalization
Why Altcoins Can’t Make the Expected Mega Bullish Move? Analyst Reveals the Main Reason
While Bitcoin is trading near all-time highs, why are many altcoins nowhere near record highs?
Spot Litecoin ETF Under SEC Review Added to DTCC List – What Does It Mean?
Canary's spot Litecoin ETF has been included in the DTCC's ETF list.
This Project Focusing on Real World Assets (RWAs) Launches a New Program in Collaboration with Google Cloud! Here Are the Details
MANTRA, a Layer 1 blockchain designed for tokenized real-world assets (RWAs), has launched RWAccelerator.
Trending news
MoreCrypto prices
More
