📣 Big news from Down Under! The Australian Federal Court has mostly sided with the Australian Securities and Investments Commission (ASIC) in its case against BPS Financial Pty Ltd over the Qoin scheme. However, the court clarified that blockchain technology was not part of the financial product.

This ruling is significant as it rejects ASIC's attempts to classify an entire blockchain as a "financial product" under Australian law. Blockchain Australia Chair, Michael Bacina, hailed this as an important judicial recognition of blockchains as foundational technology.

This case underscores the ongoing debate about the regulatory status of blockchain and cryptocurrency. What do you think about this ruling? Share your thoughts in the comments below! 💬👇