ASIC Appeals Finder Wallet's Earn Product Ruling

ASIC appealed its court loss against Finder Wallet over its Earn product.

The court previously ruled that the Earn product complied with financial laws.

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ASIC argues there was no depositing of money or loan, so it wasn't a "debenture."

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ASIC is concerned about consumer protections due to lack of license for the Earn product.

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The appeal will be heard by the Full Federal Court later.

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Finder is disappointed with ASIC's decision but ready to defend its product.

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