Crypto Live News
Author: Nidhi KolhapurNidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain. May 6, 2024 18:04
In 2022, ASIC sued BPS, asking the court to rule that the entire Qoin project, the token, blockchain, and wallet, was a financial product that required a license. However, The court clarified that blockchain was not part of the financial product and disagreed ASIC’s allegation that the Qoin Blockchain and the Qoin Wallets constituted one single scheme. Experts said that the court rejected ASIC’s attempts to have an entire blockchain found to be part of a “financial product” under Australian law. Blockchain Australia Chair and Digital Assets Lawyer Michael Bacina find this as an important judicial recognition of blockchains as a foundational technology.
2024-05-06 12:34:43
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