On August 14th, the Australian Securities and Investments Commission (ASIC) announced that it had initiated legal proceedings against the Australian Stock Exchange (ASX). The reason for the lawsuit is that the ASX was accused of making misleading and deceptive statements about its blockchain project, CHESS. Specifically, the ASX had claimed that its replacement project for the CHESS trading platform would be operational by April 2023 and progressing well. However, ASIC noted that at the time the statement was made in early February 2022, the project was not proceeding as planned and that the ASX did not have a reasonable basis to claim that it would be ready by that date. Currently, ASIC has not disclosed any specific penalty requests.