ASIC Suing Former ACX Exec Allan Guo Over Crypto Exchange Collapse

The Australian Securities & Investments Commission (ASIC) has initiated legal action against former ACX executive, Allan Guo, alleging mismanagement during the exchange’s demise. The lawsuit highlights growing scrutiny for individuals within the cryptocurrency industry and underscores the responsibility of executives in managing digital asset platforms. 2019 saw the collapse of ACX, leaving users unable to access their funds. This case is likely to influence Australian crypto regulation as ASIC seeks to clarify legal frameworks and ensure accountability across the industry.