Binance Prevails in $11.9B BSV Lawsuit as UK Court Rules Investors Lack Claim to Crypto Earnings
- Binance and other exchanges win partial dismissal of $11.9B BSV lawsuit.
- The court says investors can’t claim damages for missed profit opportunities.
- The verdict may shape future legal cases in crypto delistings.
The UK Court of Appeal has delivered a decisive ruling in favor of Binance and several crypto exchanges. It partially dismissed a $11.9 billion lawsuit over the delisting of Bitcoin SV (BSV). The judgment on May 21 found that investors could not claim damages for hypothetical profits they might have earned had the token remained listed.
Background: Six Years of Legal Dispute
The case stemmed from the coordinated 2019 decision by Binance, Kraken, ShapeShift, and Bittylicious to delist BSV, a Bitcoin fork associated with entrepreneur Craig Wright. Investors behind the lawsuit argued that the delistings unfairly prevented BSV from gaining value and deprived them of potential returns.
Related: BSV and XRP Supporter Argue Over Altcoins’ Superiority
The plaintiffs alleged that the exchanges acted anti-competitively, and that BSV’s price would have increased significantly if it had remained accessible on major trading platforms.
Court: In…
The post Binance Prevails in $11.9B BSV Lawsuit as UK Court Rules Investors Lack Claim to Crypto Earnings appeared first on Coin Edition.
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Binance Prevails in $11.9B BSV Lawsuit as UK Court Rules Investors Lack Claim to Crypto Earnings
- Binance and other exchanges win partial dismissal of $11.9B BSV lawsuit.
- The court says investors can’t claim damages for missed profit opportunities.
- The verdict may shape future legal cases in crypto delistings.
The UK Court of Appeal has delivered a decisive ruling in favor of Binance and several crypto exchanges. It partially dismissed a $11.9 billion lawsuit over the delisting of Bitcoin SV (BSV). The judgment on May 21 found that investors could not claim damages for hypothetical profits they might have earned had the token remained listed.
Background: Six Years of Legal Dispute
The case stemmed from the coordinated 2019 decision by Binance, Kraken, ShapeShift, and Bittylicious to delist BSV, a Bitcoin fork associated with entrepreneur Craig Wright. Investors behind the lawsuit argued that the delistings unfairly prevented BSV from gaining value and deprived them of potential returns.
Related: BSV and XRP Supporter Argue Over Altcoins’ Superiority
The plaintiffs alleged that the exchanges acted anti-competitively, and that BSV’s price would have increased significantly if it had remained accessible on major trading platforms.
Court: In…
The post Binance Prevails in $11.9B BSV Lawsuit as UK Court Rules Investors Lack Claim to Crypto Earnings appeared first on Coin Edition.
Read More