Regulatory Alerts2025-07-24
Full Court Dismisses ASIC Appeal in Finder Wallet Case
The Full Court of the Federal Court dismissed ASIC’s appeal against Finder Wallet, upholding the lower court's ruling that the Finder Earn crypto-asset product was not a debenture. Consequently, the court determined that Finder Wallet did not breach the Corporations Act as alleged by the regulator. This decision underscores the regulatory challenges in applying existing financial services laws to crypto-assets and prompts ASIC to carefully consider its implications.
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