A court in Australia mostly ruled in favor of Australia’s markets regulator in its case against BPS Financial Pty Ltd over its Qoin scheme.An Australian Federal Court mostly ruled in favor of Australia’s markets regulator in its case against BPS Financial Pty Ltd over its Qoin scheme, on Friday,
Part of this case was ASIC's allegation that the Qoin Blockchain and the Qoin Wallets constituted one single scheme, but the court disagreed. Experts said the court made an important rejection of ASIC’s attempts to have an entire blockchain found to be part of a"financial product" under Australian law.
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