The High Court of Australia has ruled that Block Earner revenue products must be licensed for operation According to The Block, the Australian High Court has ruled that the Earner product launched by Block Earner is a regulated financial product, and providing the product requires holding an Australian financial services license. The court supports the appeal of the Australian Securities and Investments Commission (ASIC) to overturn the lower court's ruling. This case will be returned to the federal court to hear the issue of punishment. Block Earner has closed the product in November 2022 and shifted its business towards developing cryptocurrency backed housing loan products.