{"id":83273,"date":"2023-08-18T14:18:02","date_gmt":"2023-08-18T11:18:02","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=83273"},"modified":"2025-09-12T10:10:45","modified_gmt":"2025-09-12T07:10:45","slug":"crypto-lender-helio-lending-fined-for-false-licensing-claims","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/crypto-lender-helio-lending-fined-for-false-licensing-claims\/","title":{"rendered":"Crypto lender Helio Lending fined for false licensing claims"},"content":{"rendered":"<p>The Australian Securities and Investments Commission (ASIC) secured a good-behaviour bond (without conviction) against crypto lender Helio Lending for false statements about possessing a licence.<\/p>\n<figure class=\\\"wp-block-image\\\"><img decoding=\\\"async\\\" src=\\\"https:\/\/lh5.googleusercontent.com\/GtafyN1J8lGBccct41VJT7ulWtxDTuMK_i57qQJIl0B7uT43ZgAgq8m_0CG-Y2PE2lktIIyPfdPG1eZVwNFCBdwgub4dmLQP4zMGaOVeLkarqL5WyKESWsPeuHwSLjm240R-S2OElMS9ORvmc4E6Ic0\\\" alt=\\\"\u041a\u0440\u0438\u043f\u0442\u043e\u0444\u0438\u0440\u043c\u0443 Helio Lending \u043e\u0448\u0442\u0440\u0430\u0444\u043e\u0432\u0430\u043b\u0438 \u0437\u0430 \u043b\u043e\u0436\u043d\u044b\u0435 \u0437\u0430\u044f\u0432\u043b\u0435\u043d\u0438\u044f \u043e \u043b\u0438\u0446\u0435\u043d\u0437\u0438\u0438\\\"\/><figcaption class=\\\"wp-element-caption\\\">Data: <a href=\\\"https:\/\/twitter.com\/asicmedia\/status\/1692067507874435510\\\">X<\/a>.<\/figcaption><\/figure>\n<p>The company signed a good-behaviour bond of AUD 15,000 (about USD 9,600) for a 12-month period.<\/p>\n<p>ASIC said that in August 2019 Helio, in a news article on its website, falsely claimed it held a credit licence ACL 391330. The company was neither the holder nor a representative of the ACL owner.<\/p>\n<p>At the time, Helio offered consumers loans secured by cryptocurrencies.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\"><p>\\n<\/p>\n<p>\\&#8221;We expect that legal and natural persons will provide accurate information to their users and potential clients. Helio falsely claimed that it held an Australian credit licence, misleading customers,\\&#8221; said ASIC Deputy Chair Sarah Court.<\/p>\n<p>\\n<\/p><\/blockquote>\n<p>The company pleaded guilty, which was noted in sentencing. The second count related to the content of the Helio website article from February 2019 was withdrawn by the regulator.<\/p>\n<p>The matter was before the Commonwealth Director of Public Prosecutions.<\/p>\n<p>As reported, ASIC <a href=\"https:\/\/forklog.com\/en\/news\/australian-regulator-sues-etoro-over-high-risk-product\">filed a lawsuit<\/a> against the eToro platform over a &#8216;high-risk&#8217; product that allows speculation, including on cryptocurrencies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Australian Securities and Investments Commission (ASIC) secured a good-behaviour bond (without conviction) against crypto lender Helio Lending for false statements about possessing a licence.<\/p>\n","protected":false},"author":1,"featured_media":83274,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[108,36],"class_list":["post-83273","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-australia","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/83273","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=83273"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/83273\/revisions"}],"predecessor-version":[{"id":83275,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/83273\/revisions\/83275"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/83274"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=83273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=83273"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=83273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}