Block Earner CEO criticized cryptocurrency regulation in Australia – Bits Media

al regulation of cryptocurrencies in Australia – Bits Media />

The General Director of Fintech Company lamented for the inflexible regime of licensing of cryptocurrency products in Australia and the lack of clarity in regulatory infrastructure.

Charlie Caraboga refers to a lawsuit, which the financial services regulator has submitted to the Block Earner to the court for the provision of unlicensed investment cryptocurrency products.

In the Australian Commission on Securities and Investments (According to MineSpot co-founder Adam Aushev) expressed concern about topics, that Block Earner offers products without the necessary registration or AFS license, what, according to the regulator, Leaves customers unprotected.

The general director assured, that his company welcomes the rules and regulation as such and spent significant resources, To accelerate the creation of regulatory infrastructure for the cryptocurrency industry in Australia. However, the legislation still does not work, since the Australian regulators do not perform their work properly.

“In an ideal situation, we would offer critic products in the regulatory sandbox, With more understandable licensing modes. We calculate, that in the future we will be able to cooperate more freely with ASIC and other regulators ", - said Caraboga.

ASIC previously suspended the license on the financial operations of the local subsidiary of the bankrupt crypto -tank FTX. The license was suspended before 15 May 2023 of the year.