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Regulatory Updates

ASIC Seeks Clarification from Australian High Court on Crypto Products in Block Earner Case

ASIC Seeks Clarification from Australian High Court on Crypto Products in Block Earner Case

On 21 May 2025, the Australian Securities and Investments Commission (ASIC) announced it is seeking special leave from the High Court of Australia, the apex court, to appeal a ruling by the Australian Full Federal Court in the ongoing regulatory dispute with Web3 Ventures Pty Ltd, trading as Block Earner. The appeal seeks judicial clarity on the interpretation of the term “financial product” under Australian law, particularly in relation to crypto-asset products offering fixed-yield returns.

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