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Australian Regulator Sentences Crypto Lender Helio for False License Claims

The Australian Securities and Investment Commission (ASIC) has sentenced Melbourne-based cryptocurrency lending firm Helio for falsely claiming it held an Australian credit license (ACL) in August 2019. According to an official release from the ASIC, Helio was sentenced to a non-conviction bond and entered into a recognizance of A$15,000 for 12 months on the condition of good behavior. The Australian securities regulator charged Helio in April 2022, accusing the firm of falsely representing in a news article on its website that it held an ACL, whereas it did not. The lender also mentioned in an investor update that it obtained the license through the acquisition of CashFlow Investments.


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