The post ASIC Seeks High Court Ruling on Crypto Yield Products After Block Earner Win appeared on BitcoinEthereumNews.com.

In brief Australia’s corporate regulator is seeking High Court approval to appeal a ruling that favoured crypto firm Block Earner over the classification of digital asset yield products. ASIC is asking the court to clarify whether interest-earning and asset conversion crypto products fall under the Corporations Act as financial products. The appeal follows a Federal Court decision that found Block Earner’s fixed-yield product did not constitute a financial product under current law. Australia’s corporate regulator is seeking special leave from the High Court to appeal a ruling in favour of crypto firm Block Earner, intensifying a legal dispute over the status of digital asset yield products. The Australian Securities and Investments Commission, or ASIC, is asking the High Court to clarify how interest-earning and asset conversion products should be treated under the Corporations Act.  “The definition of financial product was drafted in a broad and technology-neutral way, and ASIC believes it is in the public interest to clarify this,” the agency said in a statement. “This clarification is important as it applies to all financial products and services, whether they involve crypto-assets or not.” Special leave is required to appeal to the High Court of Australia. The court grants it only in cases involving significant legal questions or matters of public interest. Appeals are not heard automatically, and ASIC, in this case, must first obtain the court’s permission.  “We note ASIC’s application to the High Court and, as outlined in their submission, that this matter now relates to a broader legal question around the definition of a financial product, which extends well beyond Block Earner and the crypto sector.” Charlie Karaboga, CEO and co-founder of Block Earner, told Decrypt. In April, a decision by the Full Federal Court overturned earlier findings against Block Earner, which ASIC argues had offered a…

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Filed under: News - @ May 21, 2025 4:27 pm