Regulatory Alerts2025-09-05
High Court Grants ASIC Special Leave to Appeal Block Earner Decision
The High Court has granted ASIC special leave to appeal a Full Federal Court ruling that determined Block Earner did not require a financial services licence for its fixed-yield digital asset product. ASIC seeks a clarification on the definition of financial products, specifically regarding interest-earning products and asset conversions, to ensure regulatory consistency across the sector. The appeal, which is conditional on ASIC paying Block Earner's costs, was heard on 12 March 2026 with judgment reserved.
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