The CEO of fintech firm Block Earner has lashed out over the 'lack of clarity' in Australia's financial licensing regime after a regulator sued his company.
for crypto in the country and said the “lack of clarity [...] creates friction between regulators and innovators,” adding:
“In an ideal world, we would build these products in a regulatory sandbox with more clarity around licensing regimes. In the future, we look forward to working with ASIC and other regulators in this space.” According to Karaboga, Block Earner had filed for a credit license and advised ASIC it would apply for an AFS license for its upcoming products as “the licensing requirements are clear.”took action againstIt said its “key priority” is targeting “unlicensed conduct and misleading promotion of crypto-asset financial products” after it alleged the Qoin token creators were “misleading” its users.
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