An Australian Federal Court dismissed a lawsuit brought by Australia's market regulator, @asicmedia, against Finder (@findercomau), marking a significant victory for the crypto industry. The lawsuit's dismissal was seen as a 'win for crypto,' according to Finder's founder. In a separate but related legal development, the SEC's case against Gemini and Genesis over the Gemini Earn program proceeded, with the court allowing the SEC discovery into facts establishing potential violations of securities laws under both the Howey and Reeves tests. This development was highlighted as a 'win' for Gary Gensler's SEC. The court found Finder's Earn product was complaint.
Gary Gensler’s SEC notches ‘win,’ as Gemini and Genesis lose bid to dismiss case https://t.co/t8QB4ScqF1
Judge throws out watchdog’s case against Finder: A ‘win for crypto,’ founder says https://t.co/0dLKKC8RfG
Australian court sides with Finder Wallet in lawsuit brought by country’s financial regulator https://t.co/vQuno9nBHh
An Australian Federal Court handed the crypto industry a major victory by dismissing a lawsuit brought by Australia’s market regulator (@asicmedia) against Finder (@findercomau). By @amitoj. https://t.co/S3JHab84nj
📣 Latest News: Australian crypto firm Finder's Earn product was complaint, court finds #news #cryptonews #crypto
Summary of the SEC v. Gemini order on the motion to dismiss. 1) SEC has alleged enough now to allow them discovery into facts establishing that Gemini Earn program violated the securities laws under both the Howey and Reeves tests. 2) Howey is really flexible and can be… https://t.co/ChdlvBOssD