Woofun AI reports that the Australian High Court issued a ruling on June 17 supporting the appeal filed by the Australian Securities and Investments Commission (ASIC) against Block Earner. The court determined that Block Earner's fixed-income digital asset product, Earner, mandates a financial services license within Australia. The judicial decision established that products offered by Web3 Ventures Pty Ltd fulfill the functions of financial investment instruments. Because investor returns are tied to value fluctuations of underlying digital assets and exchange rates, these offerings are classified as derivatives. The matter is now remitted to the full Federal Court for a final decision regarding ASIC's penalty appeal against Block Earner.