ASIC v Block Earner (unlicensed crypto financial product)
civil penalty4 June 2024Penalty $350K
Respondent
Web3 Ventures Pty Ltd (Block Earner)
Facts
Block Earner operated a crypto-asset 'Earner' product Federal Court found was a financial product requiring AFSL.
Outcome
Civil penalty $350,000 + restitution; signals crypto product classification matters.
Read the source
https://asic.gov.au/about-asic/news-centre/find-a-media-release/Rules Mate links to the regulator's own publication. We do not republish full decision text. Always verify the latest status against the source before acting.