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, 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
Author: Paige Estritori

Please Note: We do not endorse any specific products or companies. Some content is sourced from third parties, including press releases, and may not be independently verified for accuracy or completeness.

Share this news item:

Finance News

Bhagwan Marine Achieves 19% EBITDA Growth in First Half of 2026
Bhagwan Marine Achieves 19% EBITDA Growth in First Half of 2026
27 Mar 2026: Paige Estritori
Bhagwan Marine Limited, a leading Australian marine solutions provider, has reported a 19% growth in EBITDA margin for the first half of the 2026 financial year (1H26). This impressive performance reflects the company's strategic focus on revenue quality, cost control, and operational efficiency. - read more
Australian Government Allocates $30 Million to Enhance Marine Complex in Henderson
Australian Government Allocates $30 Million to Enhance Marine Complex in Henderson
27 Mar 2026: Paige Estritori
The Australian government has announced an initial investment of $30 million to enhance the Australian Marine Complex (AMC) in Henderson, Western Australia. This funding is part of a broader strategy to bolster the nation's sovereign naval shipbuilding and sustainment capabilities, contributing to economic diversification and job creation. - read more
Sherco's Competitive Finance Rates for 2026 Two-Stroke Factory Models
Sherco's Competitive Finance Rates for 2026 Two-Stroke Factory Models
19 Mar 2026: Paige Estritori
Sherco Australia has unveiled an enticing finance promotion aimed at making their 2026 two-stroke Factory enduro models more accessible to enthusiasts. This initiative offers competitive interest rates on select models, providing an excellent opportunity for riders to upgrade their equipment ahead of the peak enduro season. - read more
Club Marine's New Insurance Offering for Race Boats in Partnership with AOPC
Club Marine's New Insurance Offering for Race Boats in Partnership with AOPC
19 Mar 2026: Paige Estritori
Club Marine, Australia's leading boat insurance provider, has announced a strategic partnership with the Australian Offshore Powerboat Club (AOPC) to offer specialised insurance coverage for race boats while they are on land. This collaboration addresses a significant gap in the market, providing protection for vessels during storage and transit. - read more
Bhagwan Marine's Strategic Acquisition of Riverside Marine Holdings
Bhagwan Marine's Strategic Acquisition of Riverside Marine Holdings
19 Mar 2026: Paige Estritori
Bhagwan Marine, a prominent player in Australia's marine services industry, has announced its agreement to acquire 100% of Riverside Marine Holdings. This strategic move is set to significantly enhance Bhagwan Marine's fleet and service capabilities, positioning the company for substantial growth in the sector. - read more
Click for more Finance News


Jet Ski Loans Articles

4 Ways To Finance Your Jet Ski
4 Ways To Finance Your Jet Ski
Jet skiing is a thrilling watersport that has become increasingly popular in recent years. If you’re thinking of purchasing a jet ski, you may be wondering how to finance your purchase. There are a few different ways to finance a jet ski, and the best option for you will depend on your individual circumstances. - read more
Your Checklist for Buying a Pre-Owned Jetski in Australia
Your Checklist for Buying a Pre-Owned Jetski in Australia
Australia’s sun-kissed beaches and meandering coastlines are a paradise for watery adventures, and lately, jet skiing has been making waves as one of the nation's fastest-growing aquatic sports. The thrill of skimming across the surf at exhilarating speeds is an irresistible allure for adventure-seekers and marine sports aficionados alike. Not only does this activity offer a unique blend of excitement and physical activity, but it also allows folks to explore the stunning Australian waters in an entirely new way. - read more
Jet Skiing with Kids: Safety Guidelines Every Parent Should Know
Jet Skiing with Kids: Safety Guidelines Every Parent Should Know
Jet skiing can be a fun and exhilarating activity for families, but safety should always be a top priority, especially when children are involved. In Australia, there have been numerous jet skiing accidents involving children, with some resulting in serious injuries or even fatalities. It is important for parents to be aware of the potential risks and to take appropriate safety measures to protect their children when jet skiing. - read more
Wave Riding on a Budget: Low-Cost Loan Strategies for Your Next Jetski Purchase
Wave Riding on a Budget: Low-Cost Loan Strategies for Your Next Jetski Purchase
The thrill of slicing through the waves, the rush of the open water, and the spirit of adventure all encapsulate the undeniable excitement of jetskiing. In Australia, with its vast and spectacular coastlines, owning a jetski is a dream many aspire to achieve. The power to zip across the sea at your own pace is not just a hobby; it's a lifestyle that beckons adventurers and water sports enthusiasts alike. - read more
Financial Tips for First-Time Jetski Buyers in Australia
Financial Tips for First-Time Jetski Buyers in Australia
Buying your first jetski is an exciting venture, offering a unique combination of fun, thrill, and the freedom to explore Australia's beautiful waterways. However, it's crucial to make a well-informed purchase to ensure that your investment complements your lifestyle and financial circumstances. - read more


START HERE.

Loan Amount:
Postcode:

All quotes are provided obligation-free by a participating broker from our national referral partner network. We respect your Privacy.


Knowledgebase
Securities:
Financial instruments that represent ownership in a corporation (stocks), a creditor relationship with a corporation or government (bonds), or rights to ownership (options).


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 act solely as an introducer and refer enquiries to licensed third-party brokers, insurers, and lenders. We do not provide financial product advice or credit assistance. 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 independently verify the credentials and licensing of any adviser or provider you engage. Visit the ASIC website for further information.