According to the Daily Planet, the Federal Court of Australia ruled in favor of the Australian Securities and Investments Commission (ASIC) in its case against crypto startup Block Earner. Judge Ian Jackman held that Block Earner violated some provisions of the Corporations Act 2001 by offering the "Earner" product without an Australian Financial Services License. The judge also ruled that Block Earner violated some provisions of the same act by operating an unregistered managed investment plan related to the same product. According to the judgment issued on January 31, ASIC has filed a request with the court for an order on Block Earner's two products, the "Earner" and "Access" products. Both products were launched in March 2022, but only the Access product continues to be offered, while the "Earner" product was discontinued around November 16, 2022, eight months after its launch.