Bitcoin SV (BSV) investors are reviving a significant $13.3 billion claim against Binance and several other exchanges, including Kraken, Bittylicious, and ShapeShift, alleging collusion in the abrupt delisting of BSV in April 2019. The class action, spearheaded by BSV Claims Limited under the leadership of Lord David Currie, claims that coordinated delisting actions financially harmed BSV investors and suppressed the coin's market value.
The UK Competition Appeal Tribunal ruled that BSV Claims Limited can argue its case that crypto exchanges should be subject to the same competition laws as other financial entities. This procedural progress is viewed as a landmark moment for UK cryptoasset law and could set new legal precedents concerning market competition and investor protection within the cryptocurrency sector.
Recent legal advancements have increased investor confidence, as reflected in recent price gains for BSV. The action seeks to have a lasting effect on how exchanges determine token listings and delistings, potentially reshaping UK and global regulatory landscapes. While Binance has yet to issue a public response, the case draws attention to the broader regulatory and legal environment in the crypto space, emphasizing the protection of investor rights. Previous delisting-related lawsuits have prompted scrutiny but rarely delivered large compensations, making this case particularly notable for its scale and implications.