Source: Finder Sydney Office
The Australian Securities and Investments Commission (ASIC) is appealing the Federal Court’s decision to dismiss its case against Finder Wallet and its cryptocurrency Earn product.
Back in March, the Federal Court found that Finder Wallet was compliant with Australian financial services law. It was a landmark decision that has the potential to influence future cases regarding cryptocurrency and regulatory compliance within Australia.
“ASIC has appealed the Federal Court’s decision to dismiss ASIC’s proceedings against Finder Wallet Pty Ltd for allegedly providing unlicensed financial services, breaching product disclosure requirements and failing to comply with design and distribution obligations in relation to its crypto-asset related product ‘Finder Earn’,” a press release reads.
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