Australian regulators sue the Australian Securities Exchange (ASX) over misleading statements regarding blockchain projects
ChainCatcher news, according to Cointelegraph, the Australian Securities and Investments Commission (ASIC) has sued the Australian Securities Exchange (ASX) in federal court.ASIC accuses 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" for a launch in April 2023 and that it was "progressing well," when in fact the project was not proceeding as scheduled or meeting its milestones at that time. After significant delays and budget overruns, ASX ultimately abandoned the project in November 2022.