ASIC is seeking a High Court appeal in the Block Earner crypto yield case after a ruling in favor of Block Earner by the Full Federal Court.
ASIC wants clarification on the treatment of interest-earning and asset conversion products under the Corporations Act, believing it to be in the public interest.
The CEO of Block Earner mentioned that the High Court appeal extends beyond their platform and the crypto industry, addressing broader legal questions on financial product definitions.
In a previous ruling in February 2024, Block Earner was found to be involved in unlicensed conduct, but the Full Federal Court overturned this decision in April 2025.