May 19
ASIC issues first-ever credit licence to crypto firm
Sydney fintech Block Earner has become the first crypto company to secure an Australian Credit Licence (ACL) as Australia ramps up regulation of digital assets.
➤ Block Earner has become the first crypto firm in Australia to receive an Australian Credit Licence (ACL) from ASIC, enabling it to offer regulated credit products directly. ➤ This development signifies a major step for digital assets in Australia, with ASIC aiming to integrate them into established regulatory frameworks for transparency and consumer protection. ➤ Despite receiving the license, Block Earner is currently involved in legal proceedings with ASIC regarding previous allegations of unlicensed financial services.
