Australia’s Securities Regulator to Probe ASX After Collapsed Blockchain Project

Australia’s Securities and Investment Commission (ASIC) has enlisted three veteran finance experts to investigate the Australian Securities Exchange. The probe follows persistent concerns about the exchange's operational stability, exacerbated by the failed blockchain upgrade to its CHESS settlement system in 2022.

Rob Whitfield, Christine Holman, and Guy Debelle will scrutinize ASX's governance, technical infrastructure, and risk management frameworks. Their findings could reshape the exchange's future operations, particularly in technology adoption.

The CHESS debacle has already resulted in legal action against ASX for alleged misleading statements. This inquiry signals regulators' growing impatience with traditional financial institutions' handling of blockchain integration.