ASIC appoints panel to investigate ASX's failed blockchain project
PANews reported on June 26 that according to Decrypt, the Australian Securities and Investments Commission (ASIC) has appointed a three-person expert team to conduct a comprehensive investigation of the Australian Stock Exchange (ASX), focusing on its governance structure and risk management system. The investigation is directly due to the failure of the ASX's $163 million blockchain clearing system CHESS replacement project, which was terminated in November 2022 after seven years of development, resulting in a pre-tax loss of $170 million.
The investigation team is led by former Westpac executive Rob Whitfield and includes many senior financial industry figures. They are required to submit rectification suggestions before March 31, 2026. ASX has previously been sued by ASIC for information disclosure issues in the project and paid a fine of $684,000 for violating market rules. Analysts pointed out that the monopoly position has led to the inefficiency of ASX, and the failure of the blockchain project has further damaged investor trust. At present, ASX has completely abandoned blockchain technology and turned to traditional system upgrades.
Ayrıca Şunları da Beğenebilirsiniz
South African lawmakers put Starlink launch on hold over policy clash
United States Building Permits Change dipped from previous -2.8% to -3.7% in August
