Australian Fintech Block Earner Launches Crypto-Backed Loans Amid Lawsuit Over Licensing

Australian fintech Block Earner launching crypto-backed loans despite lawsuit from regulator for offering unlicensed products.
Loans allow Aussies to use crypto as collateral for cash, similar to products offered in US.
Block Earner believes lack of clear regulation allowed it to launch original products without license.
Company hopes to see more regulatory clarity in Australia in 12-18 months to avoid losing crypto companies to other jurisdictions.
Block Earner court case stemming from regulator lawsuit scheduled for November, decision expected by January.

cointelegraph.com

Relevant topic timeline:

9/27/2023

BlockFi Gets Court Approval for Restructuring Plan After Revisions

Bankrupt crypto lending firm BlockFi has gained approval from a bankruptcy judge to implement a new plan to pay back customers, which includes compiling a list of the top 50 creditors who did not have secured loans.