On Friday, 8 April, the corporate regulator announced that Helio Lending has been charged with falsely claiming that it held an Australian credit licence (ACL).

It’s alleged that around 20 February 2019, the cryptocurrency lender falsely represented on its website that it held ACL 391330 and “published or allowed to be published” a news article on 10 September 2018 that reported it held the same ACL.

ASIC has alleged that Helio Lending was not an ACL holder nor a representative of an ACL holder.

"ACLs are required to undertake credit activity,” ASIC said in a statement.

“Strict penalties can apply to those who unlawfully engage in credit activities.”

The matter is next listed for mention on 7 July 2022 in the Melbourne Magistrate’s Court.

Helio Lending has been contacted for comment.