Online reported that the Federal Court of Australia overturned a previous unfavorable judgment on crypto lending platform Block Earner, finding that its Earner products backed by crypto assets did not violate local financial regulations. The court ruled that Block Earner's blockchain lending products are fixed-term loan agreements and not financial investment products that require regulatory approval. The court not only dismissed all charges by the Australia Securities and Investments Commission (ASIC), but also required ASIC to bear all litigation costs for the original trial and appeal. The three-year legal dispute began in November 2022 when ASIC accused Block Earner of violating Australia Financial Services Laws. Although Block Earner reportedly has no plans to re-launch Earner products in the Australia market after winning the law.