The Federal Court of Australia has exonerated a fine against fintech firm Block Earner after ruling that the company offered a cryptocurrency earnings product without a financial services license.
On June 4, Judge Ian Jackman ruled that Block Earner "acted honestly" and that it did consider obtaining a license when its earnings product, Earner, was launched, but its research and legal advice concluded that a license was not required. Charlie Karaboga, founder and chief executive of BlockEarner, said obtaining legal advice before launching the product "shows that we acted honestly and did everything we could as a startup.
An Australian court has waived fines in a lawsuit against Block Earner for providing crypto-income products without a license
2024-06-04 05:42:41
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