Federal Court Clears Finder Earn in Major Crypto Ruling
Australia’s crypto and fintech sector has received an important boost after the Federal Court ruled in favor of Finder.com over its crypto yield product, Finder Earn, that it did not contravene financial laws. This ruling comes nearly three years after the legal battle commenced with the Australian Securities and Investments Commission (ASIC), which argued that the product was illegal.
Finder Earn was active between February and November last year and allowed users to convert Australian dollars into the TrueAUD stablecoin and deposit them into a Finder Wallet for a fixed annual yield of 4% to 6%. Although the product attracted quite some interest, the ASIC moved to shut it down, saying it was a financial product under the Corporations Act that was not licensed.
The court originally cleared ASIC in March 2025. After that, ASIC launched an appeal. The appeal has been dismissed following a fresh ruling by Justices Stewart, Cheeseman and Meagher. Finder Earn is not a financial product nor a debenture, the classification under Australian law that would require licensing and more regulation, the court said.
Court Findings: Cryptocurrency is Not Money but Property
The court’s ruling clarified what the term “digital assets” entails. The court ruled that TrueAUD is not legally considered “money” but is rather a type of property. In this way, customers transferring their money to Finder Wallet are not effectively making a loan, nor are they making a deposit—both conditions must be met for a product to qualify as a debenture.
According to the court, customers chose to hand over ownership of their stablecoins for a right from the company to get them back with interest. The court stated that the arrangement is similar to lending of securities and not a cash loan, which undermines ASIC’s argument that Finder Earn needs to be regulated like a financial product.
A Defining Moment for Australia’s Fintech Landscape
Finder applauds the court decision, which they are sure will help foster innovation and responsible crypto in Australia. Finder’s co-founder Fred Schebesta stated that it is a win for Finder but also for the whole fintech ecosystem in Australia. It is important that Australians can safely and compliantly access modern financial tools such as staking, NFTs, and yield products.
Schebesta said this case has innovation moving faster than regulation. From day one, Finder Earn was built without concealment, and the ASIC has been kept in the know. The court has now stated that correctly executed innovation will have a place in the future of finance.
Schebesta also hinted at a new project in the pipeline, which indicates Finder is ready to take the next step following this legal victory with bigger digital asset offerings.
Setting a Precedent in Crypto Regulation
For the first time in Australia, the courts have interpreted whether or not a crypto yield product could be a debenture. The result will likely influence the assessment and regulation of digital asset products across the country as an SEC case ruling.
Australia’s plan for a full regulatory framework of the digital asset space comes at a critical time for such rulings. The way this case will end up will give rise to new laws. This is because regulators are not sure how to classify and regulate these crypto-based services.
All the funds that customers have withdrawn are returned. All funds for more than 500,000 TrueAUD (approx. $336,000 USD) are returned to customers. The Finder has weathered the storm. It also emerged stronger. The storm of crypto scams proved to be a good lesson for the company. Further, Australia’s fintech scene gets more mature. There can be coexistence of innovation with regulation.
Conclusion
The Finder Earn ruling could be pivotal in Australia’s changing approach to the regulation of cryptocurrency from now on. The court has opened the doors to further innovation by reaffirming that digital asset services can be provided transparently and responsibly within existing laws and regulations. This landmark verdict is a win not just for the fintechs but also for numerous retail investors in the crypto space.
