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The Australian provider of the Kraken crypto exchange has told a court that its margin trading product is not a credit facility, rejecting the corporate regulator’s “overly broad” definition of the word ‘credit’.
ASIC has wasted no time in appealing a judge’s decision to excuse cryptocurrency product provider Block Earner from paying a civil penalty on the basis that it took advice from a leading law firm that was not seen by the court.
A judge has excused cryptocurrency product provider Block Earner from paying a penalty in a case brought by ASIC, despite finding it provided a financial product without a licence, because it obtained legal advice and genuinely believed it was not breaching the law.
A class action against BPS Financial may abandon some claims after a judge found in a separate case brought by the Australian Securities and Investments Commission that the Qoin cryptocurrency issuer made false and misleading claims about its product.
Former BitConnect national promoter John Louis Bigatton has pleaded guilty over his role in marketing the online cryptocurrency platform, a global Ponzi scheme that reached a market capitalisation of $5 billion before its collapse.
A court has found Qoin cryptocurrency issuer BPS Financial made false and misleading claims about its product, in a win for the corporate regulator and a likely boost for a class action against the Gold Coast-based digital currency company.
Australians who sank $21.2 million into crypto firm NGS Crypto, including their retirement savings, may have been misled about the safety of their investments, according to an investigation by the Australian Securities and Investments Commission.
Electronic payment solutions company BPAY has filed a lawsuit accusing crypto platform owner Be Pay Australia of infringing its BPAY trade mark.
A criminal case against Facebook owner Meta sparked by mining magnate Andrew Forrest over scam cryptocurrency ads has been dropped, while a similar case by the Australian Competition and Consumer Commission remains on foot.
The Australian Securities and Investments Commission is challenging a decision that Finder Wallet did not need a financial services licence to sell its defunct cryptocurrency product.