The court's decision affirms Finder Earn's non-classification as a financial product, bolstering innovation in Australia's fintech landscape.
The Australian Federal Court ruled that Finder.com’s product, Finder Earn, is not a financial instrument, rejecting ASIC's appeal. This ruling ends a nearly three-year legal dispute, confirming compliance with financial laws. Finder Earn, operational from February to November 2022, allowed users to convert AUD into stablecoins for yields between 4% and 6%. Following the ruling, Finder returned over 500,000 TrueAUD (approximately $336,000) to customers, highlighting the importance of compliant access to innovative investment opportunities.