- The UK Supreme Court denied a $12 billion appeal against delisting Bitcoin Satoshi Vision (BSV) from major crypto exchanges.
- BSV Claims Limited argued that delisting harmed BSV’s value and growth potential but failed to establish a strong legal basis.
- The Competition Appeal Tribunal and Court of Appeals previously rejected BSV’s claims regarding losses from token removal.
- Since BSV’s delisting in April 2019, its price dropped 94%, while Bitcoin’s value rose over 2,300%.
- Legal actions and disputes involving BSV creator Craig Wright contributed to exchanges’ decisions to delist BSV.
The UK Supreme Court refused on December 8 to hear a $12 billion appeal by BSV Claims Limited challenging the delisting of the Bitcoin Satoshi Vision (BSV) token from major cryptocurrency exchanges, including Binance and Kraken. The court ruled the appeal did not raise a valid legal question worth considering.
Judges Miles, Hodge, and Rose stated that the appeal “does not raise an arguable point of law or a point of law of general public importance.” This represents the third time BSV Claims Limited has had its legal challenge dismissed by UK courts.
The case began in 2024 when BSV Claims Limited argued that the multiple delisting events starting in April 2019 caused significant damage to BSV’s market value and blocked its chance to compete with Bitcoin. Since then, Bitcoin (BTC) surged approximately 2,322% to a record of $124,700, while BSV’s price declined by 94% to just $19.
Previously, the Competition Appeal Tribunal rejected claims of a “foregone growth effect” and “loss of chance” regarding BSV’s price. The Court of Appeals upheld this decision, saying investors were not entitled to billions in damages and could have reduced their losses after learning about the delisting.
The Master of the Rolls noted, “Even if BSV holders reasonably remained unaware of the delisting events for much longer periods, I cannot see how they could ever claim more than the total value of their holding before the delisting events plus any quantifiable consequential losses such as trading fees.”
BSV is a cryptocurrency created by Craig Wright, who claims to be Bitcoin’s original creator, Satoshi Nakamoto—a claim widely disputed and labeled false. BSV emerged as a hard fork of Bitcoin Cash, itself a fork of Bitcoin. Several exchanges removed BSV largely due to Wright’s aggressive legal threats against users and public disputes over his identity.
When Binance delisted BSV, its former CEO Changpeng Zhao publicly called Wright a fraud. OKCoin also delisted BSV in 2021, citing Wright’s ongoing legal actions and the token’s weak market performance.
For more details, see the original ruling at the UK Supreme Court case page and background on the delisting controversy.
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