Block Earner CEO: Very Disappointed That Product Is Being Sued

Block Earner CEO Charlie Karaboga said he was disappointed that the product had been sued. The company has "spent considerable resources building the regulatory infrastructure" to be able to provide services "in accordance with existing guidelines provided by ASIC."

He added: "In an ideal world, we would build products in a regulatory sandbox and have more clarity on the licensing regime. Going forward, we look forward to working with ASIC and other regulators in this area."

Previously, Block Earner was sued by the Australian financial services regulator for offering unlicensed crypto investment products.