Australia Slaps Penalty to BPS Financial in Crypto Qoin Promotion

Australia Slaps Penalty to BPS Financial in Crypto Qoin Promotion

The ASIC has imposed a penalty on BPS Financial for touting a crypto token called ‘Qoin’ and a “non-cash payment” wallet linked to it.

What the BPS ruling reveals about Australia’s crypto compliance gap - Invest In Crypto News

Misleading claims about Qoin approval, liquidity, and merchant acceptance were upheld. The court imposed financial penalties, public notices, and a long-term operating ban. ASIC is easing some crypto licensing requirements while maintaining enforcement pressure. Australia’s long-running court battle against BPS Financial has ended with a decisive ruling that sharpens the spotlight on regulatory gaps in the country’s crypto and digital payments s…

Australian Federal Court Slams BPS Financial With Heavy Fine for Crypto Misrepresentation

The Australian Federal Court fined BPS Financial $9.7 million for operating its Qoin Wallet without a license and making misleading claims about its functionality. Permanent Ban on Qoin Promotion The Australian Federal Court has ordered digital currency payments provider BPS Financial to pay total pecuniary penalties of $9.7 million (AUD$14 million) following a lengthy legal […]

Australian Court Hits BPS Financial With Almost $10M Penalty Over Qoin Wallet More Stories ETHNews

Australia’s crackdown on misleading crypto conduct intensified after the Federal Court of Australia ordered BPS Financial Pty Ltd to...

BPS Fined $9.3M for Misleading Qoin Wallet Promotion

Australia’s Federal Court has ordered BPS Financial Pty Ltd to pay 14 million Australian dollars (around $9.3 million) for breaching financial laws through its Qoin Wallet product.