ASIC sues ASX over alleged misleading statements about CHESS replacement project progress.

Australia's ASIC has filed a lawsuit against ASX, Australia's stock exchange, claiming misleading market statements about the progress of the CHESS replacement project. ASIC alleges that ASX concealed delays in the project, which aimed to replace the legacy exchange technology CHESS with blockchain. The project's delays and ultimate abandonment have raised questions about digital securities in Australia and the importance of accurate disclosure for listed companies.