Bitcoin SV holders attempt legal comeback against Binance

While the complainants are trying to cancel a previous court decision, the long-standing conflict between Bitcoin SV investors and the cryptocurrency exchange binance has entered a new stage.

Investors continue to say that Binance’s decision to delete Bitcoin SV (BSV) Of its platform, caused substantial damage on the market to cryptocurrency.

The legal representatives of the BSV Holder Coalition filed a file to challenge the dismissal in July 2024 of the British competition court. According to recent court documents, they argued that the court had not correctly examined the complete economic impact of the radiation action.

Complaint of several billion books at stake

THE Revived case could lead to one of the greatest claims for damages in the history of cryptocurrencies, BSV investors pursuing compensation which would exceed 10 billion pounds Sterling (about $ 13 billion) for the presumed market handling and anti-competitive behavior.

Market analysts note that renewed legal action coincided with a peak of temporary price for Bitcoin SV. The play saw a gain of 15% before settling in the fork of $ 42 at the time of the press. Despite this momentary rally, cryptocurrency is negotiated below its peaks of all time.

The controversy occurred by Binance’s decision to set up the BSV in April 2019, during a controversial discussion on the industry on the founder of the play and its questionable affirmations on the beginnings of Bitcoin. Several other major exchanges have followed similar radiation actions shortly after.

Industry observers suggest that this case could establish important precedents concerning the exchange of authority to determine which cryptocurrencies remain accessible to traders and if the cancellation of decisions can be considered as anti-competitive practices in existing regulatory frameworks.

BSV, which emerged following a controversial hard fork, has been faced with several technical and security challenges in recent years. Critics say that its network vulnerabilities justify original radiation decisions.

The exchange previously argued that its registration policies are applied in a coherent manner on the basis of technical merit and community standards rather than targeted action against specific projects.