The Australian Securities and Investments Commission (ASIC) has sued the country's major stock exchange, ASX, in the Federal Court, accusing the exchange of making "misleading and deceptive" statements on its now-abandoned blockchain project. ASIC stated on August 14 that ASX's statements regarding the replacement project for its Clearing House Electronic Subregister System (CHESS) trading platform, set to be operational in April 2023 and progressing smoothly, were misleading. The regulatory body claimed that when the statement was made in early February 2022, the project "was not progressing as planned," and ASX had no "reasonable basis" to imply that the project would be ready by that date. ASIC added that the penalties to be sought have not yet been determined. (Cointelegraph)

Odaily Planet Daily News The Australian Securities and Investments Commission (ASIC) has sued the country's major stock exchange ASX in the Federal Court, accusing the exchange of making "misleading and deceptive" statements on its now-abandoned blockchain project. ASIC stated on August 14 that ASX's statements about the replacement project for its Clearing House Electronic Subregister System (CHESS) trading platform, set to be operational in April 2023 and progressing smoothly, were misleading. The regulatory body claimed that when the statement was made in early February 2022, the project "was not progressing as planned," and ASX had no "reasonable basis" to imply that the project would be ready by that date. ASIC added that it has not yet determined what penalties it will seek. (Cointelegraph)

ASIC accuses the Australian Securities Exchange ASX of making misleading statements about its blockchain project CHESS.