Australia's corporate regulator is applying to the High Court for special leave to appeal a ruling in favour of crypto firm Block Earner, further intensifying a legal dispute over the status of digital asset income products. The Australian Securities and Investments Commission (ASIC) is asking the High Court to clarify how interest income and asset conversion products should be treated under the Companies Act.
"The definition of a financial product was drafted in a broad and technology-neutral manner, and ASIC believes it is in the public interest to clarify this," the agency said in a statement. "This clarification is important because it applies to all financial products and services, whether they involve cryptoassets or not."
Special leave is required to appeal to the High Court of Australia. This court only grants such leave in cases involving significant questions of law or matters of public interest. Appeals are not automatic and ASIC must first obtain leave from the court in this case.
Australian ASIC seeks High Court ruling on crypto-income products after Block Earner wins
2025-05-21 05:04:36
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