UK Authorities Begin Proceedings Against Six Exchanges Over 2019 Delisting of Bitcoin SV (BSV)
The United Kingdom’s Competition Appeal Tribunal has initiated proceedings against six major cryptocurrency exchanges over their decision to delist Bitcoin SV (BSV) in 2019.
The case, brought forward by plaintiffs seeking $9 billion in damages for missed opportunities, indicates more red lights on the ongoing legal complexities and significant financial stakes within the crypto industry.
BSV Claims Limited vs Bittylicious Limited & Others
Its a sunny day in London, but we are here at the Competition Appeal Tribunal, for the hearing relating to the de-listing of $BSV from various exchanges
This is a case bought by "BSV Claims Ltd" against 6 defendants:
(1)… pic.twitter.com/cRNTP5JcIX
— BitMEX Research (@BitMEXResearch) June 5, 2024
On June 5, the UK Competition Appeal Tribunal commenced a hearing against six exchanges that delisted Bitcoin SV in 2019 . The defendants include Binance Europe Services, Erik Voorhees’ ShapeShift, Kraken (represented as Payward), Bittylicious, and related entities.
Each defendant is represented by their legal team, leading to extensive documentation and many lawyers involved. The tribunal has estimated that the collective proceedings order (CPO) will take three days.
Bitcoin SV (BSV), short for “Satoshi’s Vision,” is a blockchain and cryptocurrency that split from Bitcoin Cash (BCH) in 2018. It was founded by a blockchain development firm associated with Craig Wright, who controversially claims to be Satoshi Nakamoto, Bitcoin’s anonymous creator.
The split and subsequent delisting stemmed from a community divide, with various firms and prominent figures backing different narratives and forks.
In April 2019, a wave of BSV delistings occurred, including from major exchanges like Binance and
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