An ASX shareholder is planning to sue the exchange's former directors over a failed blockchain-based project. The project, which aimed to overhaul the Clearing House Electronic Subregister System (CHESS), has faced renewed governance scrutiny.
The exchange has admitted to misleading the market, prompting the lawsuit. This development is based on reporting from CoinTelegraph.
The CHESS system is a critical component of Australia's financial infrastructure, and the blockchain-based overhaul was intended to modernize it. However, the project's failure has raised questions about the exchange's governance and transparency.