CONSUMER LAW – established contraventions of s 911A(1) and s 911A(5B) Corporations Act 2001 (Cth) – whether defendant should be relieved from liability pursuant to s 1317S Corporations Act – established contraventions of s 12DA(1) and s 12DB(1) Australian Securities and Investments Commission Act 2001 (Cth) – where defendant carried on a financial services business in issuing a financial product, and providing financial product advice in relation to that product, without being licensed – where defendant made attempts to comply with the law – where financial product was called the Qoin Wallet which allowed user to make non-cash payments using Qoin Tokens or Qoin – where defendant made false or misleading representations on its website and in a White Paper available on its website – where no direct evidence that any consumer relied on the representations and suffered loss or damage – dispute as to quantum of penalty to be imposed – corrective advertising ordered – injunctive relief granted STATUTORY INTERPRETATION – meaning of “benefit” in s 1317G(f)(b) Corporations Act – whether “benefit” means revenue or profit – meaning of “benefit derived”
Original article available at: https://www.judgments.fedcourt.gov.au/judgments/Judgments/fca/single/2026/2026fca0018For more information, see the original judgement.
