BPS Financial to pay $14 million in penalties over crypto Qoin Wallet

26-008MR

civil penalty27 Jan 2026Penalty $14.00M

Respondent

BPS Financial Pty Ltd

Facts

The Federal Court has found BPS Financial Pty Ltd ( BPS Financial ) must pay $14 million in pecuniary penalties over its promotion and operation of its ‘Qoin Wallet’ crypto product.

Outcome

ASIC civil penalty of $14,000,000 — BPS Financial Pty Ltd (2026-01-27). See the ASIC source for the full terms.

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Read the source

https://www.asic.gov.au/about-asic/news-centre/find-a-media-release/2026-releases/26-008mr-bps-financial-to-pay-14-million-in-penalties-over-crypto-qoin-wallet

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