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Odaily Planet Daily News: The Australian Securities and Investments Commission (ASIC) has appointed a three-member expert panel to conduct a comprehensive investigation into the Australian Securities Exchange (ASX), focusing on reviewing its governance structure and risk management system. This investigation directly stems from the failure of ASX's $163 million blockchain clearing system CHESS replacement project, which was terminated after seven years of development in November 2022, resulting in a pre-tax loss of $170 million. The investigation team is led by Rob Whitfield, a former executive of Westpac Bank, and includes several senior figures in the financial industry, and is required to submit improvement recommendations by March 31, 2026. ASX had previously been sued by ASIC over information disclosure issues related to this project and paid a fine of $684,000 for violating market rules. Analysts point out that the monopoly position has led to inefficiency at ASX, and the failure of the blockchain project has further damaged investor trust. Currently, ASX has completely abandoned blockchain technology and is turning to upgrading traditional systems. (Decrypt)

Jinse.com report, according to Decrypt, the Australian Securities and Investments Commission (ASIC) has appointed a panel of three experts to investigate the Australian Securities Exchange (ASX). The investigation was triggered by ASX abandoning its seven-year, $163.1 million blockchain project, which aimed to replace its CHESS clearing system. The panel, led by senior banker Rob Whitfield, is required to submit a report to ASIC by March 31 of next year.