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      tldr; Australia has approved its first Bitcoin-backed mortgage following a Federal Court ruling in favor of Block Earner, a crypto lending firm. The court determined that Block Earner’s crypto lending products are not classified as financial products, allowing the company to offer Bitcoin as collateral for home loans without a financial services license. Borrowers can use Bitcoin to secure up to 50% of a property’s value, with the remainder financed through a traditional mortgage. This initiative provides an alternative for crypto holders amid Australia’s housing affordability crisis.

      *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

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