The Federal Court of Australia overturned the previous ruling against the crypto lending platform Block Earner, determining that its Earner product did not violate local financial laws, and ordered the securities regulator ASIC to bear all legal costs. The court ruled that the product is essentially a fixed-term loan agreement, rather than a licensed financial investment product. Despite the victory, Block Earner stated that it currently has no plans to relaunch the product in the Australian market. (TheBlock)

The Federal Court of Australia has ruled in favor of fintech company Block Earner, dismissing the Australian Securities and Investments Commission’s (ASIC) lawsuit that claimed its cryptocurrency-related products require a financial services license. The court determined that Block Earner's fixed-income cryptocurrency products do not constitute financial products, managed investment schemes, or derivatives, as users lend cryptocurrencies under fixed terms to earn interest without pooling funds. ASIC was ordered to pay legal costs. Block Earner's Chief Commercial Officer, James Coombes, stated that this ruling clarifies that crypto assets should be treated equally with other asset classes. Despite the victory, Block Earner will not resume this product but will continue focusing on crypto-backed lending products. ASIC initiated the lawsuit in November 2022; the court had previously ruled in early 2024 that a license was required, but subsequent judgments exempted Block Earner from fines.

The Federal Court of Australia has sided with fintech firm Block Earner in an appeal against a ruling that found it was required to hold a financial services license for its now-discontinued crypto-related products. 
Block Earner’s crypto-linked fixed-yield earning product is not a financial product, or a managed investment scheme, and is not a derivative under the Corporations Act, Justices David O’Callaghan, Wendy Abraham and Catherine Button said in an April 22 judgment. 
The trio said Block Earner’s yield product couldn’t be classed as an investment or financial product because users loaned crypto under fixed terms for interest payments and didn’t pool contributions to generate further benefits. The terms and conditions framed it as a loan, and users had no exposure to the firm’s business outside of the agreed interest rate, they added.
A court has dismissed the legal proceedings against Block Earner and ordered Australia's financial regulator to pay costs. Source: ASIC
The Australian Securities and Investment Commission (ASIC), which first brought the case, has been ordered by the court to pay costs for the proceedings, including appeals. The regulator said in an April 22 press release that it is currently “considering this decision.”
Block Earner’s chief commercial officer, James Coombes, told Cointelegraph the court decision brings clarity that crypto assets shouldn’t be treated differently from other asset classes when applying existing laws. 
“Our product was simply defined as one where customers would lend their assets to us for a fixed return, there was no share in the upside of the pool of assets and as such no Managed Investment Scheme existed,” he said. 
“The fact that it included crypto assets should not alter that simple definition, and I believe this case forms a bedrock for ambitious brands around Australia to build from.”
An ASIC spokesperson declined further comment.
Earner product won’t make a return 
Despite the win in court, Block Earner will not be reviving its Earner product after axing it when legal proceedings began, but Coombes said that “crypto-backed loans products remain the core focus of the company.”
“Regulation going forward is not an easy task, and we empathise with the regulators on this point,” Coombes added. “We hope a collaborative process can bring about positive change.” 
Related: Australia outlines crypto regulation plan, promises action on debanking
ASIC launched civil legal proceedings in November 2022, arguing that Block Earner needed an Australian Financial Services License to offer its three crypto-linked fixed-yield earning products.
In February 2024, an Australian court initially found the fintech firm would need a financial services license to operate its crypto yield-bearing products. 
Another June 2024 ruling released Block Earner from any financial penalties because it had “acted honestly” and pursued its legal opinions before launching the products, which ASIC appealed.
Magazine: SEC’s U-turn on crypto leaves key questions unanswered


The Federal Court of Australia supports Block Earner, dismissing the lawsuit filed by the financial regulatory authority.

Background: In November 2022, the Australian financial regulatory authority, the Australian Securities and Investments Commission (ASIC), initiated civil proceedings against fintech company Block Earner, asserting that its fixed income products related to cryptocurrency required a financial services license.

Main Event: On April 22, 2024, the Federal Court of Australia ruled that Block Earner's cryptocurrency fixed income products do not fall under the definitions of financial products, managed investment schemes, or derivatives as per the Corporations Act, and therefore do not require a financial services license. The court held that the product essentially involves users lending cryptocurrency under fixed terms to earn interest, without participating in profit distribution from a fund pool. The court also ordered ASIC to bear the litigation costs. Block Earner's Chief Commercial Officer, James Coombes, stated that this judgment clarifies that crypto assets should not be treated differently when applying existing laws.

Subsequent Impact: Despite the favorable ruling, Block Earner has ceased offering this product but will continue to focus on cryptocurrency mortgage products. ASIC indicated it is considering the judgment. Block Earner aims to promote positive regulatory changes through collaboration.

The Federal Court of Australia has sided with fintech firm Block Earner in an appeal against a ruling that found it was required to hold a financial services license for its now-discontinued crypto-related products. Block Earner’s crypto-linked fixed-yield earning product is not a financial product, or a managed investment scheme, and is not a derivative under the Corporations Act, Justices David O’Callaghan, Wendy Abraham and Catherine Button said in an April 22 judgment. The trio said Block Earner’s yield product couldn’t be classed as an investment or financial product because users loaned crypto under fixed terms for interest payments and didn’t pool contributions to generate further benefits. The terms and conditions framed it as a loan, and users had no exposure to the firm’s business outside of the agreed interest rate, they added. The Australian Securities and Investment Commission (ASIC), which first brought the case, has been ordered by the court to pay costs for the proceedings, including appeals. The regulator said in an April 22 press release that it is currently “considering this decision.” Block Earner’s chief commercial officer, James Coombes, told Cointelegraph the court decision brings clarity that crypto assets shouldn’t be treated differently from other asset classes when applying existing laws. “Our product was simply defined as one where customers would lend their assets to us for a fixed return, there was no share in the upside of the pool of assets and as such no Managed Investment Scheme existed,” he said. “The fact that it included crypto assets should not alter that simple definition, and I believe this case forms a bedrock for ambitious brands around Australia to build from.” An ASIC spokesperson declined further comment. Despite the win in court, Block Earner will not be reviving its Earner product after axing it when legal proceedings began, but Coombes said that “crypto-backed loans products remain the core focus of the company.” “Regulation going forward is not an easy task, and we empathise with the regulators on this point,” Coombes added. “We hope a collaborative process can bring about positive change.” Related: Australia outlines crypto regulation plan, promises action on debanking ASIC launched civil legal proceedings in November 2022 , arguing that Block Earner needed an Australian Financial Services License to offer its three crypto-linked fixed-yield earning products. In February 2024, an Australian court initially found the fintech firm would need a financial services license to operate its crypto yield-bearing products. Another June 2024 ruling released Block Earner from any financial penalties because it had “acted honestly” and pursued its legal opinions before launching the products, which ASIC appealed. Magazine: SEC’s U-turn on crypto leaves key questions unanswered 

The Federal Court of Australia rules that Block Earner's cryptocurrency fixed income product does not require a financial services license

The Federal Court of Australia has supported fintech company Block Earner and dismissed the Australian Securities and Investments Commission's (ASIC) lawsuit requiring it to hold a financial services license for its cryptocurrency-related products. The court determined that Block Earner's fixed-income crypto products do not constitute financial products, managed investment schemes, or derivatives, as users lend cryptocurrencies under fixed terms without participating in the returns of an asset pool. ASIC was ordered to pay legal costs and is currently considering the court's ruling. Block Earner's Chief Commercial Officer, James Coombes, stated that this ruling clarifies that crypto assets should not be treated differently under existing laws. Despite the victory, Block Earner will not resume its Earner product but will continue to focus on cryptocurrency-backed lending products. ASIC initiated the lawsuit in November 2022. In early 2024, the court initially ruled that a license was required; subsequent rulings exempted Block Earner from fines, prompting ASIC to appeal.

<img src="https://static.sosovalue.com/sosovalue/2025/04/23/805fef74-01f7-482a-870a-479817ed7c7d.jpg"><img src="https://static.sosovalue.com/sosovalue/2025/04/23/8d232197-ee44-4dcc-ad81-aed269d1c88f.jpg">The Federal Court of Australia has sided with fintech firm Block Earner in an appeal against a ruling that found it was required to hold a financial services license for its now-discontinued crypto-related products.&nbsp;Block Earner’s crypto-linked <a href="https://cointelegraph.com/learn/articles/ways-to-earn-passive-income-with-crypto" title="null">fixed-yield earning product</a> is not a financial product, or a managed investment scheme, and is not a derivative under the Corporations Act, Justices David O’Callaghan, Wendy Abraham and Catherine Button <a href="https://www.judgments.fedcourt.gov.au/judgments/Judgments/fca/full/2025/2025fcafc0058" title="null">said</a> in an April 22 judgment.&nbsp;The trio said Block Earner’s yield product couldn’t be classed as an investment or financial product because users loaned crypto under fixed terms for interest payments and didn’t pool contributions to generate further benefits. The terms and conditions framed it as a loan, and users had no exposure to the firm’s business outside of the agreed interest rate, they added.<img src="https://static.sosovalue.com/sosovalue/2025/04/23/66264baa-4c6e-40c4-b503-5ec0b36b6544.jpg">A court has dismissed the legal proceedings against Block Earner and ordered Australia's financial regulator to pay costs. Source: <a href="https://download.asic.gov.au/media/dqslt5v3/25-062mr-asic-v-web3-ventures-pty-ltd-2025-fcafc-58.pdf" title="null">ASIC</a>The Australian Securities and Investment Commission (ASIC), which first brought the case, has been ordered by the court to pay costs for the proceedings, including appeals. The regulator <a href="https://asic.gov.au/about-asic/news-centre/find-a-media-release/2025-releases/25-062mr-full-federal-court-finds-block-earner-did-not-engage-in-unlicensed-conduct/" title="null">said</a> in an April 22 press release that it is currently “considering this decision.”Block Earner’s chief commercial officer, James Coombes, told Cointelegraph the court decision brings clarity that <a href="https://cointelegraph.com/learn/articles/what-is-a-cryptocurrency-a-beginners-guide-to-digital-money" title="null">crypto assets</a> shouldn’t be treated differently from other asset classes when applying existing laws.&nbsp;“Our product was simply defined as one where customers would lend their assets to us for a fixed return, there was no share in the upside of the pool of assets and as such no Managed Investment Scheme existed,” he said.&nbsp;<blockquote>“The fact that it included crypto assets should not alter that simple definition, and I believe this case forms a bedrock for ambitious brands around Australia to build from.”</blockquote>An ASIC spokesperson declined further comment.<h2>Earner product won’t make a return&nbsp;</h2>Despite the win in court, Block Earner will not be reviving its Earner product after axing it when legal proceedings began, but Coombes said that “crypto-backed loans products remain the core focus of the company.”“Regulation going forward is not an easy task, and we empathise with the regulators on this point,” Coombes added. “We hope a collaborative process can bring about positive change.”&nbsp;Related: <a href="https://cointelegraph.com/news/australian-treasury-outlines-crypto-regulation-to-tackle-debanking" title="null">Australia outlines crypto regulation plan, promises action on debanking</a>ASIC launched civil <a href="https://cointelegraph.com/news/block-earner-ceo-calls-for-licensing-clarity-after-being-sued-for-crypto-products" title="null">legal proceedings in November 2022</a>, arguing that Block Earner needed an Australian Financial Services License to offer its three crypto-linked fixed-yield earning products.In February 2024, an Australian <a href="https://cointelegraph.com/news/block-earner-ruling-australian-court-distinction-crypto-yield-products" title="null">court initially found the fintech firm </a>would need a financial services license to operate its crypto yield-bearing products.&nbsp;Another June 2024 ruling <a href="https://cointelegraph.com/news/block-earner-escapes-penalty-asic-crypto-suit-court-rules" title="null">released Block Earner from any financial penalties</a> because it had “acted honestly” and pursued its legal opinions before launching the products, which ASIC appealed.Magazine: <a href="https://cointelegraph.com/magazine/sec-crypto-laws-unclear/" title="null">SEC’s U-turn on crypto leaves key questions unanswered</a>

The Federal Court of Australia supports Block Earner, dismissing the lawsuit filed by financial regulators.

According to ChainCatcher, citing The Block, the Federal Court of Australia has overturned a previous adverse ruling against the crypto lending platform Block Earner, determining that its crypto asset-backed Earner product did not violate local financial regulations. The court ruled that Block Earner's blockchain lending product is a fixed-term loan agreement rather than a financial investment product requiring regulatory licensing. The court not only dismissed all charges by the Australian Securities and Investments Commission (ASIC) but also ordered ASIC to bear all litigation costs of both the original trial and the appeal. This three-year legal dispute began in November 2022, when ASIC accused Block Earner of violating the Australian Financial Services Law. Despite this legal victory, it is reported that Block Earner currently has no plans to relaunch the Earner product in the Australian market.

The Federal Court of Australia Overturns Previous Unfavorable Ruling Against Crypto Lending Platform Block Earner

BlockBeats reports that on April 22, according to TheBlock, the Federal Court of Australia overturned the previous unfavorable ruling against the crypto lending platform Block Earner, determining that its crypto asset-backed Earner product did not violate local financial regulations. The court ruled that Block Earner's blockchain lending product is a fixed-term loan agreement rather than a financial investment product requiring regulatory approval.

The court not only dismissed all charges from the Australian Securities and Investments Commission (ASIC) but also ordered ASIC to bear all litigation costs from both the original trial and the appeal. This legal dispute, which lasted three years, began in November 2022 when ASIC accused Block Earner of violating the Australian Financial Services Act. Despite this legal victory, it is reported that Block Earner currently has no plans to relaunch the Earner product in the Australian market.

BlockBeats reported that on April 22, according to TheBlock, the Federal Court of Australia overturned a previous unfavorable judgment against the crypto lending platform Block Earner, ruling that its crypto asset-backed Earner product did not violate local financial regulations. The court determined that Block Earner's blockchain lending product is a fixed-term loan agreement rather than a financial investment product requiring regulatory licensing.

The court not only dismissed all allegations by the Australian Securities and Investments Commission (ASIC) but also ordered ASIC to bear all litigation costs for both the original trial and the appeal. This legal dispute, which lasted three years, began in November 2022 when ASIC accused Block Earner of violating the Australian Financial Services Act. Despite this legal victory, it is reported that Block Earner currently has no plans to relaunch the Earner product in the Australian market.

The Federal Court of Australia overturns the previous adverse ruling against the crypto lending platform Block Earner

The Federal Court of Australia overturned the ruling against the cryptocurrency lending platform Block Earner, determining that its blockchain-based lending product "Earner" does not violate local financial regulations. After three years of legal battles, the court ruled that the product is a term loan agreement rather than a financial investment requiring regulatory approval. The court dismissed the charges brought by the Australian Securities and Investments Commission (ASIC) and ordered the regulatory agency to bear the litigation costs. This judgment may set a precedent for similar cases in the future.

PANews reported on April 22 that according to The Block, the Australian Federal Court overturned the ruling against the cryptocurrency lender Block Earner and ordered the securities agency to bear the legal costs. It is reported that the three-year legal battle between Sydney-based fintech startup Block Earner and the Australian Securities and Investments Commission (ASIC) over alleged unlicensed service provision ended with the victory of the cryptocurrency lender, which may set a precedent for future cases.
 After years of legal wrangling, the Federal Court of Australia ruled that Block Earner's cryptocurrency-based "Earner" product did not violate local financial regulations and approved the company's appeal, dismissing the securities regulator's allegations. The court found that Block Earner's blockchain-based lending product was a term loan agreement, not a financial investment that required regulatory approval.

The Federal Court of Australia overturned the ruling against the crypto lending platform Block Earner, ruling that its products comply with regulations.

According to TechFlow, on April 22, The Block reported that the Federal Court of Australia overturned a previous unfavorable ruling against the crypto lending platform Block Earner, determining that its crypto asset-backed Earner product did not violate local financial regulations. The court ruled that Block Earner's blockchain lending product constitutes a fixed-term loan agreement rather than a financial investment product requiring regulatory licensing.

The court not only dismissed all allegations made by the Australian Securities and Investments Commission (ASIC) but also ordered ASIC to bear all litigation costs for both the original trial and the appeal. This three-year legal dispute began in November 2022, when ASIC accused Block Earner of violating the Australian Financial Services Act. Despite this legal victory, it is reported that Block Earner currently has no plans to relaunch the Earner product in the Australian market.

<div>
According to TechFlow on April 22, The Block reported that the Federal Court of Australia overturned the previous adverse ruling against the crypto lending platform Block Earner, determining that its crypto asset-backed Earner product did not violate local financial regulations. The court ruled that Block Earner's blockchain lending product constitutes a fixed-term loan agreement rather than a financial investment product requiring regulatory licensing.
The court not only dismissed all charges from the Australian Securities and Investments Commission (ASIC) but also ordered ASIC to bear all litigation costs for both the original trial and the appeal. This three-year legal dispute began in November 2022 when ASIC accused Block Earner of violating the Australian Financial Services Act. Despite this legal victory, it is reported that Block Earner currently has no plans to relaunch the Earner product in the Australian market.
</div>

The Federal Court of Australia Overturns Unfavorable Ruling Against Crypto Lending Platform Block Earner

MetaEra news: On April 22 (UTC+8), the Federal Court of Australia overturned the ruling against cryptocurrency lending firm Block Earner and ordered the securities regulator to bear the legal costs. It is reported that Sydney-based fintech startup Block Earner engaged in a three-year legal battle with the Australian Securities and Investments Commission (ASIC) over allegations of unlicensed service provision. The case ultimately ended in victory for the crypto lending firm, potentially setting a precedent for future cases. (Source: Bitpush)

Australian Federal Court Overturns Ruling Against Cryptocurrency Lending Platform Block Earner

<div> 
 The Federal Court of Australia overturned the previous ruling against the crypto lending platform Block Earner, determining that its Earner product did not violate local financial laws and ordered the securities regulator ASIC to bear all legal costs. The court ruled that the product is essentially a fixed-term loan agreement rather than a licensed financial investment product. Despite the victory, Block Earner stated that it currently has no plans to relaunch the product in the Australian market. (TheBlock) 
 </div>

The Federal Court of Australia overturns the previous ruling against the crypto lending platform Block Earner.

Australian court rules that Block Earner did not violate local financial regulations, ordering the regulatory authority ASIC to bear all legal costs.

Australian Court Rules Block Earner Did Not Violate Financial Regulations, Regulator ASIC to Bear Legal Costs

The Federal Court of Australia ruled in favor of the cryptocurrency lending platform Block Earner, overturning the previous decision that its "Earner" product required licensing. The court dismissed the Australian Securities and Investments Commission's (ASIC) appeal against the penalty and ordered the regulator to bear the legal costs.

The Full Federal Court of Australia ruled in favor of crypto lender Block Earner, overturning previous findings that its "Earner" product required licensing. The court dismissed ASIC's appeal for penalties and ordered the regulator to cover legal costs.

The Federal Court of Australia supports crypto lending platform Block Earner, dismissing ASIC's penalty appeal.

BlockBeats news, on April 22, according to TheBlock, the Federal Court of Australia overturned the previous unfavorable ruling against the crypto lending platform Block Earner, determining that its crypto asset-backed Earner product did not violate local financial regulations. The court ruled that Block Earner's blockchain lending product is a fixed-term loan agreement rather than a financial investment product requiring regulatory licensing.

The court not only dismissed all charges brought by the Australian Securities and Investments Commission (ASIC) but also ordered ASIC to bear all litigation costs of both the original trial and the appeal. This three-year legal dispute began in November 2022 when ASIC accused Block Earner of violating the Australian Financial Services Act. Despite this legal victory, it is reported that Block Earner currently has no plans to relaunch the Earner product in the Australian market.

BlockBeats news: On April 22, according to TheBlock, the Federal Court of Australia overturned a previous adverse ruling against the crypto lending platform Block Earner, determining that its crypto asset-backed Earner product did not violate local financial regulations. The court ruled that Block Earner's blockchain lending product constitutes a fixed-term loan agreement rather than a financial investment product requiring regulatory approval.

The court not only dismissed all allegations by the Australian Securities and Investments Commission (ASIC) but also ordered ASIC to bear all litigation costs for both the original trial and the appeal. This three-year legal dispute began in November 2022, when ASIC accused Block Earner of violating the Australian Financial Services Act. Despite this legal victory, it was reported that Block Earner currently has no plans to relaunch the Earner product in the Australian market.

Odaily Planet Daily reports that the Federal Court of Australia has overturned the ruling against the cryptocurrency lending institution Block Earner, ordering the securities regulator to bear the legal costs. It is reported that Sydney-based fintech startup Block Earner engaged in a three-year legal battle with the Australian Securities and Investments Commission (ASIC) over alleged unlicensed service provision, ultimately resulting in a victory for the crypto lending firm, which could set a precedent for future cases.

After years of legal disputes, the Federal Court of Australia ruled that Block Earner's crypto-based "Earner" product did not violate local financial regulations and approved the company's appeal, dismissing the securities regulator's charges. The court determined that Block Earner's blockchain-based lending product constitutes a term loan agreement rather than a financial investment requiring regulatory licensing. (The Block)

Odaily Planet Daily News: The Federal Court of Australia has overturned the ruling against cryptocurrency lending institution Block Earner and ordered the securities agency to bear legal costs. It is reported that Sydney-based fintech startup Block Earner engaged in a three-year legal battle with the Australian Securities and Investments Commission (ASIC) over allegations of providing unlicensed services, ultimately resulting in a victory for the crypto lending company, which may set a precedent for future cases.

After years of legal disputes, the Federal Court of Australia ruled that Block Earner's crypto-based "Earner" product did not violate local financial regulations and approved the company's appeal, dismissing the securities regulator's charges. The court determined that Block Earner's blockchain-based lending product is a term loan agreement rather than a financial investment requiring regulatory licensing. (The Block)

澳大利亚联邦法院推翻了此前针对加密货币借贷平台 Block Earner 的裁决，认定其 Earner 产品并未违反当地金融法规，并且裁定证券监管机构 ASIC 承担所有诉讼费用。法院裁定该产品本质上是一种定期贷款协议，而非持牌的金融投资产品。尽管获得了胜诉，Block Earner 表示目前无计划在澳大利亚市场重新推出该产品。（TheBlock）

澳大利亚联邦法院推翻了之前针对加密货币借贷平台Block Earner的不利判决。

澳大利亞聯邦法院推翻了此前針對加密貨幣借貸平臺 Block Earner 的裁決，認定其 Earner 產品並未違反當地金融法規，並且裁定證券監管機構 ASIC 承擔所有訴訟費用。法院裁定該產品本質上是一種定期貸款協議，而非持牌的金融投資產品。儘管獲得了勝訴，Block Earner 表示目前無計劃在澳大利亞市場重新推出該產品。（TheBlock）