Cryptocurrency

A self-represented applicant is challenging the permanent stay of his competition class action against Google and Meta over the digital companies’ decision to ban cryptocurrency ads.

Finder Wallet has argued it did not need a financial services licence to sell its crypto product Finder Earn because it was not money, but instead allowed customers to purchase an asset and acted as a marketing tool to funnel users to its app. 

Global cryptocurrency and gambling website Stake.com is fighting to strike out claims in a lawsuit by Sydney-based online investment platform Stake over a planned Australian launch.

A judge has permanently stayed a class action accusing Meta and Google of breaching competition law by banning cryptocurrency ads, finding there was a potential for conflicts between the self-represented applicant, who is also funding the case, and group members.

The corporate regulator has brought proceedings against the Australian arm of Kraken Crypto Exchange, alleging it breached design and distribution obligations for a margin trading product that has lost customers almost $13 million.

Cryptocurrency lender Helio Lending Pty has been slapped with a non-conviction bond for falsely claiming that it held an Australian credit license.

The corporate watchdog has cancelled the AFS licence of FTX Australia, the Australian subsidiary of collapsed cryptocurrency exchange FTX.

The judge overseeing a class action against Qoin cryptocurrency issuer BPS Financial and several related companies has questioned the level of precision required of the pleadings, as the company fights the  applicant’s bid to amend its case for the fourth time.

Qoin cryptocurrency issuer BPS Financial is fighting a class action applicant’s bid to amend its case for the fourth time, saying it is trying to bring an “entirely new claim”.

A Chinese crypto miner has won its equipment back, for now, after a Melbourne business it charged with looking after the machines allegedly allowed four other businesses to access them, culminating in a five-way stoush involving an ambulance and police.