According to reports in the UK, 240,000 investors have passed the BSV Claims Limited company, which on August 3rd filed an application for obstruction of competition against four exchanges, including Binance and Kraken, in the UK Competition Appeal Tribunal, claiming that the damage exceeded 9 billion pounds. The BSV fork of Bitcoin Cash, which Satoshi Aoben launched and claimed to be the real Bitcoin.
The Satoshi Bennett-supported Bitcoin fork BSV (Bitcoin Satoshi Vision) has been forked since 2019. Since Binance and other transactions have been taken off the market as a result of publicity conflicts and pyramid schemes, Satoshi Auburn, the promoter, has been unhappy and has threatened to sue Coindesk for false reporting.
BSV Claims Limited, a British limited business, has contacted 240,000 British BSV investors today with the intention of applying to the UK Competition Appeal Tribunal (CAT) and gradually rescinding the original Class Action Order (CPO).
A news statement from Velitor Law states that after BSV was delisted from exchanges Binance, Bittylicious, Kraken, and Shapeshift in April 2019, BSV holders in the UK have reportedly lost an estimated £9.9 billion.
It even charges Kraken and Binance of converting BSV into other cryptocurrencies against investors’ will and forcibly, resulting in significant losses to investors. According to the press release, the four exchanges that delisted BSV did so in order to lessen and stifle competition in a manner that is prohibited under the Competition Act of 1998.
Four exchanges withdraw, losing out to “genuine Bitcoin BSV” competition
The investors contend that the four exchanges have hurt their chances by delisting BSV through a boycott in their case to the Competition Court.
According to the article, these exchanges are attempting to make BSV less competitive with digital assets marketed by other exchanges, and delisting renders investors unable to withdraw their BSV tokens. Despite having outstanding technical competitiveness, exchanges continue to consciously undermine BSV’s capacity to prosper through competition.
- Hundreds of thousands of people may have lost significant amounts of money through no fault of their own due to the actions of these exchanges and we are determined to help them win it back. This is a rare case due to legal changes to digital assets in 2015 , the case has only recently been heard in a UK court. Our goal is to show that these exchanges are hurting BSV and causing financial loss to many small individual investors.
According to the founder of the British law company Velitor Law, which handles class lawsuits.
