Finder co-founders Fred Schebesta, Jeremy Cabral and Frank Restuccia. Source: supplied.
In a landmark decision, the Federal Court of Australia has dismissed the Australian Securities and Investments Commission’s (ASIC) case against Finder Wallet and its former cryptocurrency Earn product.
The Court found Finder Earn, a cryptocurrency investment product offered by Finder Wallet, was compliant with Australian financial services law, marking a significant moment in the intersection of cryptocurrency and regulatory compliance in the country.
This news comes just weeks after Finder laid off 17% of its global workforce in its latest round of redundancies.
The legal dispute originated from ASIC’s allegations that Finder Wallet had offered its now-defunct Earn product without holding an Australian Financial Services Licence (AFSL), thereby breaching financial services laws.
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