FOLLOW US
Follow us!

We are a proud member of the Financial Services Online network!

Connect with us on your favourite social media platform for the latest financial news, views, tips, tricks, resources and information.

Follow us on social media
Jetski Loans Australia
Australian online jetski loan resources
Jetski Loans Australia :: News
SHARE

Share this news item!

ASIC's Crypto Crackdown Intensifies: Appeals Federal Court Verdict

Regulator Raises Stakes in Battle Over Crypto Oversight

ASIC's Crypto Crackdown Intensifies: Appeals Federal Court Verdict?w=400

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

The Australian Securities and Investments Commission (ASIC) has escalated its efforts in regulating crypto-related activities by appealing a significant Federal Court decision.
This move underscores the regulator's robust stance against crypto products circumventing financial regulations.

In a bold step, ASIC has contested the recent Federal Court ruling by Justice John Jackman, which found digital currency exchange Block Earner guilty of offering unlicensed financial services through its crypto-based Earner product. Despite acknowledging Block Earner's honest and non-negligent conduct, ASIC remains dissatisfied with the outcome.

According to ASIC, the Federal Court judge erred by suggesting that Block Earner depended on legal advice and also profited from its violations. The appeal highlights that regulatory ambiguity should not shield a company knowingly engaging in questionable activities for financial gain.

ASIC aims to overturn the initial judgment and seeks a penalty of $350,000, in addition to the costs incurred during the appeal process. This initiative is emphatic about ensuring stringent regulatory compliance in the financial services sector, particularly concerning burgeoning crypto products.

Notably, Block Earner operates under Web3 Ventures Pty Ltd, an AUSTRAC-registered currency exchange. However, it lacks an Australian Financial Services License (AFSL), a critical regulatory component according to ASIC.

On February 9, 2024, the court concluded that between March and November 2022, Block Earner had been providing unlicensed financial services and running an unregistered managed investment scheme through its fixed-yield product, Earner.

Conversely, the court dismissed ASIC's claims that Block Earner's variable yield crypto-assets offering, known as the Access product, required a financial services license and should be registered as a managed investment scheme.

This rigorous stance by ASIC comes at a time when crypto products are under intense scrutiny worldwide. The appeal underscores ASIC’s commitment to bringing clarity and compliance to the financial services space, leaving no room for regulatory evasion.

Published:Wednesday, 19th Jun 2024
Source: Paige Estritori

Please Note: If this information affects you, seek advice from a licensed professional.

Share this news item:

Finance News

Sea-Doo Dominates Australian Marine Brand Searches in Q4 2025
Sea-Doo Dominates Australian Marine Brand Searches in Q4 2025
15 Feb 2026: Paige Estritori
As the Australian summer approaches, the marine industry has witnessed a significant shift in consumer interest, with Sea-Doo emerging as the most-searched marine brand in the fourth quarter of 2025. According to Retain Media's Q4 2025 Marine Market Brand Consideration Report, Sea-Doo captured 11.2% of search queries, marking a substantial 51.4% increase from the previous quarter's 7.4%. - read more
Starboard Maritime Intelligence Raises $20 Million to Advance AI Maritime Security
Starboard Maritime Intelligence Raises $20 Million to Advance AI Maritime Security
15 Feb 2026: Paige Estritori
In a significant development for maritime security, Starboard Maritime Intelligence, a New Zealand-based company specializing in artificial intelligence solutions for ocean protection, has successfully closed a NZ$23 million (approximately AU$20.6 million) Series A funding round. This oversubscribed round attracted substantial interest from Australian venture capital firms, underscoring the growing importance of advanced technologies in safeguarding maritime interests. - read more
Cyan Renewables Acquires MMA Offshore in AU$1.1 Billion Deal
Cyan Renewables Acquires MMA Offshore in AU$1.1 Billion Deal
15 Feb 2026: Paige Estritori
In a landmark transaction within the marine industry, Singapore-based Cyan Renewables has acquired Australian offshore marine services provider MMA Offshore for AU$1.1 billion (approximately US$702 million). This acquisition represents the region's largest take-private deal in the offshore wind energy services sector, significantly enhancing Cyan's presence in the Asia-Pacific (APAC) region. - read more
Australian Managed Funds Experience Significant Growth in 2025
Australian Managed Funds Experience Significant Growth in 2025
07 Feb 2026: Paige Estritori
In 2025, Australian managed funds experienced a substantial increase of $35.9 billion, as reported by Calastone. This growth was primarily driven by investors seeking stability through fixed income strategies amidst global economic uncertainties. - read more
Australia Partners with Japan's Mitsubishi for $6.5 Billion Warship Fleet
Australia Partners with Japan's Mitsubishi for $6.5 Billion Warship Fleet
22 Jan 2026: Paige Estritori
In a landmark decision, Australia has awarded a AU$10 billion (US$6.5 billion) contract to Japan's Mitsubishi Heavy Industries for the construction of 11 Mogami-class frigates. This agreement signifies the most substantial defense industry collaboration between the two nations to date. - read more
Click for more Finance News


Jet Ski Loans Articles

Registration and Licenses: Hidden Fees of Jet Ski Ownership
Registration and Licenses: Hidden Fees of Jet Ski Ownership
Jet skiing is an exhilarating water sport that many Australians enjoy, especially during the warmer months. With the vast and beautiful coastline that the country offers, it's no wonder that jet skis are becoming a popular addition to many households. - read more
Understanding the Weather: Predicting Conditions for a Safe Jetski Experience
Understanding the Weather: Predicting Conditions for a Safe Jetski Experience
Weather plays a pivotal role in almost all outdoor activities, but when it comes to jetskiing, it does more than just influence the level of enjoyment—it dictates the safety and viability of taking to the water. For enthusiasts of this thrilling water sport, knowing how to read and understand weather conditions is not just a skill, it's a necessity. - read more
Jet Ski Maintenance: How to Keep Your Jet Ski Running Smoothly
Jet Ski Maintenance: How to Keep Your Jet Ski Running Smoothly
Jet skiing is one of the most exhilarating water sports out there and owning a Jet Ski can be incredibly exciting. However, along with the excitement comes the responsibility of ensuring that your Jet Ski is well-maintained. Jet Ski maintenance is important for many reasons, and in this article, we will explore the reasons behind why it should be a top priority for any Jet Ski owner. - read more
The Top Jet Ski Brands in Australia: Which One Is Right for You?
The Top Jet Ski Brands in Australia: Which One Is Right for You?
When it comes to purchasing a jet ski, choosing the right brand is crucial for ensuring a safe and enjoyable experience. There are various jet ski brands available in Australia, each with their unique features and specifications. - read more
Exploring Personal Loans vs. Dealership Financing for Jetskis
Exploring Personal Loans vs. Dealership Financing for Jetskis
When considering the purchase of a jetski, two popular financing avenues stand out: personal loans and dealership financing. Each offers unique benefits and potential drawbacks, and understanding these options can help you make an informed decision. - read more


START HERE.

Loan Amount:
Postcode:

All quotes are provided free and without obligation by a Specialist from our National Broker referral panel. See our Privacy Statement for more details.


Knowledgebase
Credit Default Swap (CDS):
A financial derivative or contract that allows an investor to "swap" or offset their credit risk with that of another investor.


Quick Links: | Jetski Loans | Jetski Finance | Personal Watercraft Loans | Marine Loans | Jetski Loan Calculator | Best Jetski Loans Australia | Low Interest Jetski Loans | Compare Jetski Loans | Secured Jetski Loans | Unsecured Jetski Loans | How To Finance A Jetski



This website is owned and operated by Clark Family Pty Ltd (ACN 010 281 008) as Trustee for the Clark Family Trust (ABN 35 957 893 714), 43 Larch Street Tallebudgera QLD 4228. Clark Family Pty Ltd is an Authorised Representative (AR 1298860) of Unique Group Broker Services Pty Ltd (AFSL 509434) for financial product referrals and an Authorised Credit Representative (ACR 401491) of Saccasan Pty Ltd (ACL 386297). Check our licensing details on the ASIC registers: Clark Family Pty Ltd ACR, Clark Family Pty Ltd AR, Saccasan Pty Ltd, Unique Group Broker Services.
| HOME | RATES | CALCULATORS | NEWS | ARTICLES | ABOUT | CONTACT | PRIVACY | BROKERS | AFFILIATES | SITEMAP |
powered by Financial Services Online | © Copyright Clark Family Pty Ltd - all rights reserved
IMPORTANT: We do not provide financial product advice or credit assistance. We act solely as an introducer and refer enquiries to licensed third-party intermediaries, insurers, and lenders - with whom you can then deal directly. We may receive a fee or commission from these third parties in consideration for the referral. Before any action is taken to obtain a product or service referred to by this website, advice should be obtained (from either the third party to whom we refer you or from another qualified intermediary) as to the appropriateness of obtaining those products having regard to your objectives, financial situation and needs. Whilst we have our own process for validating the legitimacy of our referral partners, you should always verify the credentials of your financial adviser before proceeding with recommendations that they may present. Visit the ASIC website for further information.