ASIC Court Cases Against Crypto Firms
Australian courts have ordered $32 million in penalties against crypto firms in ASIC cases we track: 7 ASIC releases on 5 firms. ASIC also lost two cases at appeal level; it won one of them in the High Court.
Total $32 million. Source: ASIC media releases (list).
| Date | ASIC release | Firm | Outcome | Penalty |
|---|---|---|---|---|
| 17 Jun 2026 | 26-124MR ASIC successful in High Court Block Earner appealHigh Court (7-0) found the fixed-yield Earner product was a financial product, so Block Earner required an AFS licence, overturning the 2025 Full Court decision. | Block Earner | ASIC won | — |
| 27 Mar 2026 | 26-055MR Binance Australia Derivatives ordered to pay $10 million penalty for onboarding failures causing millions in client trading lossesFederal Court penalty of $10 million: 524 retail investors were exposed to crypto derivatives without retail protections after misclassification as wholesale clients. | Binance Australia | Penalty ordered | $10m |
| 27 Jan 2026 | 26-008MR BPS Financial to pay $14 million in penalties over crypto Qoin WalletFederal Court penalties of $14 million ($2 million for unlicensed conduct, $12 million for misleading conduct) over the Qoin Wallet. | BPS Financial (Qoin) | Penalty ordered | $14m |
| 24 Jul 2025 | 25-147MR ASIC’s appeal against Finder Wallet Decision dismissedFull Federal Court dismissed ASIC's appeal: the Finder Earn product was not a debenture. | Finder Wallet | ASIC lost | — |
| 22 Apr 2025 | 25-062MR Full Federal Court finds Block Earner did not engage in unlicensed conductFull Federal Court found Block Earner did not need a financial services licence for its Earner product; ASIC's appeal was dismissed. | Block Earner | ASIC lost | — |
| 17 Dec 2024 | 24-283MR ASIC sues crypto company Binance Australia Derivatives for consumer protection failuresASIC sued Oztures Trading, trading as Binance Australia Derivatives, alleging retail clients were misclassified as wholesale clients. | Binance Australia | Proceedings filed | — |
| 12 Dec 2024 | 24-274MR Kraken crypto exchange operator to pay $8 million following ASIC enforcement actionFederal Court penalty of $8 million: Bit Trade, which operated the Kraken exchange, offered a ‘margin extension’ product to more than 1,100 customers without a target market determination. | Kraken | Penalty ordered | $8m |
Sources: ASIC media releases, checked on every build. Only the cases listed here are tracked; ASIC has taken other crypto-related actions.
Cite This Page
VASP Tracker, “ASIC Crypto Court Cases: Penalties and Rulings”, https://vasptracker.com/en/au/enforcement/ (accessed 21 Oct 2026). CC BY 4.0.