ASIC claimed in part of this case that the Qoin Wallets and the Qoin Blockchain were a single scheme, however the court rejected this claim.According to court records and the regulator's release, Australia's markets regulator won the most of its Friday case against BPS Financial Pty Ltd (BPS) on its Qoin scheme.

ASIC "succeeded on its Unlicensed Conduct Case, other than in relation to the period during which BPS was an authorised representative of PNI Financial Services Pty Ltd," according to Judge J. Downes' ruling.

PNI Financial Services Pty Ltd is the licence holder for non-cash payments. That lasted for ten months, according to ASIC.

cc: michela umaobot