Australia’s High Court Backs ASIC in Block Earner Fixed-Yield Product Appeal

Australia’s High Court issued a unanimous 7-0 ruling backing the Australian Securities and Investments Commission (ASIC) in its appeal over Block Earner’s former fixed-yield digital asset product, finding it required an Australian financial services licence under existing law. According to NS3.AI, the court determined the product fell within the licensing requirements already in place. The matter will return to the Full Federal Court, which will consider ASIC’s appeal regarding penalties.