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Australian Securities and Investments Commission v Web3 Ventures Pty Ltd (Penalty) [2024] FCA 578

Australian Securities and Investments Commission v Web3 Ventures Pty Ltd (Penalty) [2024] FCA 578

CORPORATIONS – civil penalty – whether to relieve defendant from liability – where defendant contravened Corporations Act ss 911A and 601ED – where contraventions involved investing customer funds in cryptocurrency – where defendant perceived there to be legal uncertainty, obtained competent legal advice, and genuinely concluded that there was no identified risk of breaching the law – defendant relieved from liability

COSTS – effect of misleading media release by regulator

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