{"id":138798,"date":"2023-09-02T03:03:09","date_gmt":"2023-09-01T21:33:09","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=138798"},"modified":"2023-09-02T03:03:09","modified_gmt":"2023-09-01T21:33:09","slug":"crypto-firm-helio-lending-gets-bond-sentence-over-false-license-claims-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/crypto-firm-helio-lending-gets-bond-sentence-over-false-license-claims-crypto-news\/","title":{"rendered":"Crypto firm Helio Lending gets bond sentence over false license claims – Crypto News"},"content":{"rendered":"
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Australia-based crypto lender Helio Lending has been sentenced to a non-conviction good behavior bond for a year for falsely claiming it had a local credit license. <\/p>\n

On Aug. 17, the Australian Securities and Investments Commission (ASIC) said<\/a> Helio was sentenced to the good-behavior bond for a year, having to pay $9,600 (15,000 Australian dollars) if broken.<\/p>\n

Good behavior bonds are often granted for less serious offenses. A non-conviction good behavior bond will mean Helios will only be convicted if it breaks its bond, and will have to pay the $9,600.<\/p>\n

ASIC said Helio falsely stated it had an Australian credit license<\/a> in an August 2019 news article that appeared on its website.<\/p>\n

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Melbourne-based cryptocurrency lender Helio Lending Pty Ltd has been sentenced to a non-conviction bond for falsely claiming that it held an Australian credit licence when it did not https:\/\/t.co\/GwrQ5VbRBf<\/a> pic.twitter.com\/gOsHHp02xL<\/a><\/p>\n

\u2014 ASIC Media (@asicmedia) August 17, 2023<\/a><\/p><\/blockquote>\n

Helio pleaded guilty which ASIC said was accounted for in the sentencing decision and a charge relating to a false representation of holding a license on Helio\u2019s website was withdrawn.<\/p>\n

Helio offered crypto-backed loans<\/a> and is an Australian subsidiary of the United States-based crypto-focused public holding company Cyios Corporation which also owns the yet-to-launch nonfungible token (NFT) platform Randombly.\u00a0<\/p>\n

ASIC charged<\/a> Helio in April 2022 over the matter. In a circulating investor update<\/a> from late 2018, Helio claimed it received the license by buying out Cash Flow Investments and its held license.<\/p>\n

Related: <\/em><\/strong>Australia\u2019s Bendigo Bank blocks high-risk payments to crypto exchanges<\/em><\/strong><\/a><\/p>\n

ASIC\u2019s latest win follows other crypto-related suits its launched in recent weeks.<\/p>\n

Earlier in August the regulator sued the trading platform eToro<\/a> alleging its screening tests before offering leveraged derivative contracts to retail investors were insufficient.<\/p>\n

Finder.com was also sued in December<\/a>, with ASIC claiming the financial product comparison site\u2019s crypto yield-bearing product was offered without the required license.<\/p>\n

Magazine: <\/em><\/strong>Crypto City guide to Sydney \u2014 More than just a \u2018token\u2019 bridge<\/em><\/strong><\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Australia-based crypto lender Helio Lending has been sentenced to a non-conviction good behavior bond for a year for falsely claiming it had a local credit license. On Aug. 17, the Australian Securities and Investments Commission (ASIC) said Helio was sentenced to the good-behavior bond for a year, having to pay $9,600 (15,000 Australian dollars) if […]<\/p>\n","protected":false},"author":2,"featured_media":138799,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-138798","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138798","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=138798"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138798\/revisions"}],"predecessor-version":[{"id":147958,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138798\/revisions\/147958"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/138799"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=138798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=138798"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=138798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}