The Australian Securities and Investments Commission (ASIC) has filed a lawsuit against ASX Limited, the country’s largest market operator, alleging it made misleading statements about the progress of a blockchain project. The project was intended to replace its aging Clearing House Electronic Subregister System (CHESS), but ASX had claimed it was progressing well before the project was cancelled. ASIC filed the lawsuit on Tuesday and has not yet determined what penalty it will seek, but the Australian Financial Review (AFR) reports that the maximum fine ASX faces could be more than A$500 million ($330 million). (CoinDesk)