Block Earner Lianchuang: The previous setback of the regulatory agency ASIC will promote the Australian encryption legislation process

On June 17th, Charlie Karaboga, co-founder of Australian cryptocurrency startup Block Earner, believes that regulation through law enforcement often produces the worst results, not only for regulatory agencies but also for users, as it tarnishes the industry. Karaboga emphasized that while regulatory agencies have a duty to protect consumers and investors, they must distinguish between malicious actors and well-intentioned innovators when carrying out their tasks. Stakeholders in the Australian cryptocurrency market hope that the decision not to punish Block Earner will encourage the Australian Securities and Investments Commission (ASIC) to take a less aggressive stance. Similarly, stakeholders expect that ASIC's setback will prompt parliament to establish "clear rules that allow us to operate legally here."