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Court Dismisses Part of ASIC Case Against Block Earner Products

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Federal Court of Australia judgment delivered in Australian regulator ASIC’s case vs Crypto Startup Block Earner.

SYDNEY, Feb. 12, 2024 /PRNewswire/ — The Federal Court of Australia delivered judgment in proceedings brought by the Australian Securities and Investment Commission (ASIC) against Block Earner, a Sydney-based crypto start-up.

The Court’s decision carries nuanced implications for Block Earner.

The judgment of Justice Ian Jackman dismissed ASIC’s allegations relating to Block Earner’s DeFi “Access” service. The judgment found that Block Earner did not breach financial services laws by providing Access. The Court found that the Access service is not a financial product and did not involve unlicensed financial services conduct, allowing Block Earner to continue offering this key component of its services. The result reinforces Block Earner’s standing in the industry as a provider of decentralised finance (DeFi) solutions.

The Court found that Block Earner’s fixed-yield “Earner” service, which Block Earner voluntarily withdrew in November 2022, was an unregistered managed investment scheme and an investment facility, and accordingly the company engaged in unlicensed financial services conduct for this product. Block Earner no longer provides Earner.

Maintaining Regulatory Compliance:

Block Earner, in its official statement, emphasised its commitment to complying with regulatory obligations while providing everyday Australians with access to the benefits of DeFi. This commitment reflects the delicate balance that innovative companies must strike between pushing boundaries and operating within established legal frameworks.

Conclusion:

Block Earner can continue offering Access, and the case provides guidance for other crypto businesses seeking to comply with the Australian financial services regulatory landscape. As the industry grapples with the need for clear guidelines, this case highlights a positive step forward. The Court’s findings that Block Earner’s Access service did not breach relevant financial services laws provides a glimpse into a future where DeFi can thrive within the existing regulatory landscape, fostering further innovation and positive change in the crypto space.

About Block Earner:

Block Earner is an Australian based FinTech powered by blockchain technology. We’re on a mission to provide a user-friendly interface for everyday Australians to access the benefits of decentralised finance. Providing more freedom for how their money is stored, moves, and grows. Block Earner is a digital asset provider, with digital vaults secured with Fireblocks, an ISO and SOC2 certified asset custodian.

View original content:https://www.prnewswire.com/apac/news-releases/court-dismisses-part-of-asic-case-against-block-earner-products-302059176.html

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Dreame Technology Expands US Footprint with New San Diego Location

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Located in the upscale, open-air shopping mall of Westfield UTC, Dreame brings its high-end smart cleaning products to the San Diego consumers

Triple-digit global growth over the past year fuels retail expansion, including plans to add multiple new U.S. locations.

SAN DIEGO, April 23, 2025 /PRNewswire/ — Dreame Technology, a smart home appliance company renowned for its ecosystem of innovative solutions, today announced the opening of its second U.S. store at the upscale Westfield UTC in San Diego. This location marks the second Dreame store in Southern California — the first being in Los Angeles’ Century City Mall — and is a significant milestone in the company’s growth strategy for the North American market, which has seen a double-digit increase in North American market share in the past 12 months alone.

The official store opening celebration will take place on Saturday, April 26, at 12 PM PT, and the public is invited to attend. Guests can enjoy a ribbon-cutting ceremony, family-friendly activities, exclusive giveaways, and explore the store’s innovative products in person.

The Westfield UTC store will showcase Dreame’s complete product lineup, including robot vacuums, cordless stick vacuums, wet/dry vacuums, and hair styling tools. Customers will experience an immersive, hands-on experience and can explore and test products, with on-site experts available to provide demonstrations and information.

“We recently opened regional headquarters in Los Angeles, and this San Diego flagship is a crucial next step in our North American expansion strategy,” said Ana Wang, general manager of Dreame Technology North America. “As consumer demand for premium smart home solutions continues to rise, customers will increasingly be able to find our innovative products through physical retail experiences.”

Opening the San Diego location follows the company’s triple-digit global growth year-over-year, and Dreame’s San Diego location is projected to contribute several million dollars in economic activity through local hiring, supplier engagement, and community investment. The company is also launching community initiatives in San Diego, including the “Clean Homes, Clean Communities” program, featuring product donations and volunteer opportunities.

Company-wide, Dreame intends to continue increasing its U.S.-based workforce by more than 30% in the coming year to support retail operations and customer experience. The company’s future plans include evaluating additional physical locations in key metropolitan markets, including New York and San Francisco.

To learn more about Dreame Technology and its products, please visit www.dreametech.com.

About Dreame Technology

Established in 2017, Dreame Technology is an innovative consumer product company focused on smart home cleaning appliances with the vision to empower lives through technology. Follow us on Facebook, Instagram, TikTok and X. For more information, please visit www.dreametech.com.

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Juniper Square Creates New Private Markets Regulatory Council

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Panel of industry experts will provide timely insights and analysis amid a rapidly evolving policy and regulatory landscape for private markets

SAN FRANCISCO, April 23, 2025 /PRNewswire/ — Juniper Square, a pioneer of connected fund software and services for private markets GPs, today announced the creation of the Private Markets Regulatory Council and released the council’s first edition of insights and analysis on developments in policy and regulation currently impacting the industry.

Comprised of private markets experts across a range of disciplines, the Juniper Square Private Markets Regulatory Council will convene regularly to assess new policy and regulatory developments and provide analysis for GPs through the lens of legal and compliance considerations, operational implications around fund formation, fundraising, investor onboarding, and reporting, and more. Council members include:

Carlo di Florio, President, ACA GroupOlga Kamensky, Partner, Kirkland & Ellis LLPMichael McVickar, General Counsel, Origin InvestmentsDan Rothenberg, Head of Legal, Juniper Square

“We anticipate that evolving policy and regulation will create new operational demands on GPs, especially as we enter an era of greater private markets investment from non-institutional investors,” said Alex Robinson, CEO and Co-Founder, Juniper Square. “The Private Markets Regulatory Council will serve as a strategic think tank, leveraging its members’ deep domain expertise to provide analysis on how the dynamic market and regulatory landscape may impact the GPs we serve. Empowering investment managers and finance leaders with clear, actionable insights will help them effectively navigate and manage complexity so they can continue to focus on growing their business and meeting the needs of investors.”

The Juniper Square Private Markets Regulatory Council’s first discussion of 2025 covers a variety of topics including the ripple effects of tariffs, compliance considerations as private markets GPs look to adopt AI, and the importance of having robust, well-documented compliance programs, regardless of how lenient or strict the regulatory environment. Hear directly from the council as they share key takeaways in this video. Future editions will be available on Juniper Square’s website and YouTube channel.

About Juniper Square
Juniper Square is dedicated to transforming the private markets investing experience. The company provides a full range of modern, connected fund software and services to over 2,100 private markets GPs across fundraising, reporting, fund administration, treasury, compliance, and business intelligence needs. Today, over $1 trillion of LP capital, 40,000 funds, and 600,000+ LP accounts are managed through Juniper Square software and fund administration services.

View original content to download multimedia:https://www.prnewswire.com/news-releases/juniper-square-creates-new-private-markets-regulatory-council-302435189.html

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Truecaller Nomination Commitee proposes Aruna Sundararajan as new Board member

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STOCKHOLM, April 23, 2025 /PRNewswire/ — The Nomination Committee of Truecaller AB (publ) proposes that Ms. Aruna Sundararajan is elected as new Board member at the Annual General Meeting (“AGM”) on May 23, 2025. Further, the Nomination Committee proposes re-election of all current Board members.

Ahead of the AGM on May 23, 2025, the Nomination Committee proposes re-election of all current Board members (Nami Zarringhalam, Alan Mamedi, Annika Poutiainen, Helena Svancar, Shailesh Lakhani), and the election of Ms. Arunda Sundararajan as a new member of the board.

Ms. Aruna Sundararajan has extensive experience within the technology field from other board assignments and comes with relevant experience in policy and regulatory matters within India. She has held key positions at central level such as Secretary of the Ministry of Electronics and Information Technology (MeitY), Secretary to the Department of Telecommunications and chairperson of the Digital Communications Commission where she played a key role in policy making for the telecom sector.  As Kerala’s first IT Secretary, she was the driving force behind major digital infrastructure and e-learning projects. Today, Ms. Sundararajan serves as chairperson of the Broadband India Forum, a think tank for telecom and digital issues, and is on the advisory board of the Indian Council for Research on International Economic Relations (ICRIER). Furthermore, she is a director on the boards of Delhivery Limited, Info Edge (India) Limited, L&T Technology Services Limited as well as India’s National Bank of Infra Financing and Development (NaBFID).

Ms. Aruna Sundararajan is independent of the company and all large shareholders.

“We are very pleased with the nomination of Aruna Sundararajan as a new board member of Truecaller. She possesses extensive experience in policy and regulatory matters within technology and has board experience from several listed companies in India. Her appointment as a new board member is expected to significantly enhance the board’s collective expertise and competence in these areas. With this addition the Board will consist of six board members with well diversified competences and experiences,” says Kamjar Hajabdolahi, chairman of Truecallers Nomination Committee.

The Nomination Committee’s other proposals and motivated statement will be presented in connection with the notice to the AGM.

Truecaller’s Nomination Committee ahead of the 2025 AGM comprises of Kamjar Hajabdolahi, appointed by Nami Zarringhalam, Sven Törnkvist, appointed by Alan Mamedi, Mattias Lampe, appointed by Peak XV and Alan Mamedi, being the representative of the Board of Directors of Truecaller AB.

For more information, please contact:

Andreas Frid, Head of IR & Communication
+46 705 29 08 00
andreas.frid@truecaller.com

About Truecaller:
Truecaller (TRUE B) is the leading global platform for verifying contacts and blocking unwanted communication. We enable safe and relevant conversations between people and make it efficient for businesses to connect with consumers. Fraud and unwanted communication are endemic to digital economies. especially in emerging markets. We are on a mission to build trust in communication. Truecaller is an essential part of everyday communication for more than 450 million active users. Truecaller is listed on Nasdaq Stockholm since 8 October 2021. For more information. please visit corporate.truecaller.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/truecaller-ab/r/truecaller-nomination-commitee-proposes-aruna-sundararajan-as-new-board-member,c4139083

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