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Cryptocurrency Firm Helio Lending Fined Good Conduct Bond for False License Promise

Helio Lending, a cryptocurrency lending company based in Australia, was sentenced to one year of good behavior bond for falsely claiming to have a local credit license. On August 17, the Australian Securities and Investments Commission (ASIC) stated that Helio was sentenced to a one-year good behavior bond and must pay $9,600 (15,000 Australian dollars) if violated.

Good behavior bond is usually granted for less serious violations. Non-conviction good behavior bond means that Helios will only be convicted if they violate the bond and must pay $9,600. ASIC stated that Helio falsely claimed to have an Australian credit license in a news article published on its website in August 2019.

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