VRES: The High Court and the legal treatment of blockchain in the Block Earner case

Overview

This project examines the High Court of Australia’s decision in ASIC v Web3 Ventures Pty Ltd (Block Earner)—one of the first times the High Court has directly engaged with blockchain-based financial products. In June 2026, the Court unanimously held that Block Earner’s fixed-yield crypto product was a financial product requiring a licence, confirming that existing financial services laws apply to digital assets.

This decision raises important questions about how the law understands blockchain technology. The Court emphasised that financial regulation is “technology neutral,” meaning new digital products can be captured within existing legal definitions without the need for new legislation. However, this creates tensions with earlier regulatory guidance (such as ASIC’s INFO 225), conflicting interpretations across courts, and uncertainty within the legal profession about how digital assets should be classified.

This research uses a semiotic lens to examine the decision—not just what the Court said, but how it framed blockchain, investment, and financial risk. It asks broader questions:

• Does blockchain require a new legal approach?
• Or is it simply absorbed into existing legal categories?
• And what does this decision reveal about how courts deal with emerging technologies where outcomes are difficult to predict?

Research activities

As a Research Assistant, you will work closely with the supervisor to analyse the Block Earner decision and its wider implications. Your work will include:

• Conducting close reading and case analysis of the High Court judgment, focusing on key passages about blockchain, financial products, and regulatory scope.
• Comparing the High Court’s reasoning with earlier decisions (Federal Court and Full Federal Court) to track how legal interpretations evolved.
• Analysing how the decision aligns or conflicts with ASIC’s INFO 225 guidance on digital assets and financial products.
• Collecting and reviewing law firm summaries, commentary, and public reactions to the decision to understand how the legal profession has interpreted it.
• Tracking ASIC’s actions after the decision (e.g. further guidance, enforcement signals, or policy responses).
• Assisting in building a structured dataset of commentary and legal responses for semiotic analysis, examining how language and framing shape understanding of blockchain and regulation.

This project involves desk-based research, legal analysis, and critical thinking about how law develops in response to new technology.

Outcomes

The project will result in an academic journal article written in collaboration with the student

Skills and experience

No specific knowledge of Blockchain is required. Ideal Candidates will have an interest in technology law and researching new ideas.

Keywords

• Blockchain
• Technology law
• High Court
• Block Earner
• Semiotics

Contact

Contact the supervisor for more information