The Australian Securities and Investment Commission (ASIC) has sued the Australian Securities exchangeASX for misleading statements regarding the blockchain project.

PANews reported on August 14th that the Australian Securities and Investments Commission (ASIC) has sued the Australian Securities exchange (ASX) in the Federal Court. ASIC has accused ASX of making misleading statements, claiming that its project to replace the Clearing House Electronic Subregister System (CHESS) trading platform with blockchain technology was ‘on track’ to be launched in April 2023 and was ‘progressing smoothly,’ when in fact the project was not on schedule at that time or meeting its milestones. After significant delays and budget overruns, ASX ultimately abandoned the project in November 2022.