Crypto Lender Helio Sentenced for Falsely Claiming to Hold an Australian Credit Licence Australia-based cryptocurrency lender,
Helio Lending Pty Ltd, has been handed a non-conviction bond after falsely claiming to hold an Australian credit license. The Australian Securities and Investments Commission
(ASIC) revealed that Helio falsely claimed it held a credit license in an August 2019 news article on its website.
Helio Lender, which offered cryptocurrency-backed loans using digital assets as collateral,
was neither a license holder nor a representative of one at the time of the statement. In response to the charges,
Helio pled guilty and has been fined accordingly.
The ASIC Deputy Chair, Sarah Court,
stressed the importance of accurate information provision to customers and potential customers, stating that
Helio's false claims deceived clients into believing they had the protection of a valid credit license.
