The Aussie financial regulator has sued another crypto company, alleging that Finder Wallet offered an unlicensed crypto yield-bearing product. It took a similar action against Block Earner last month.
Financial product comparison website Finder.com is being sued by Australia’s financial services regulator for allegedly offering a cryptocurrency yield-bearing product without the required license.
Finder Earn offered users an annual yield of between 4.01% and 6.01% for depositing the Australian dollar-pegged stablecoin True AUD . “We do not share ASIC’s view that Finder Earn can be regarded as a debenture,” a Finder.com spokesperson told Cointelegraph. “We were in the process of this sunset when we were notified [ASIC] might take a closer look,” they added.
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