In a surprising turn of events, investors in Bitcoin SV (BSV) are attempting to resurrect a lawsuit that was dismissed by the UK Competition Appeal Tribunal in 2024. The lawsuit, which was initially filed against Binance, alleges that the cryptocurrency exchange's decision to delist BSV in 2019 caused a prolonged decline in its price. The investors claim that the delisting resulted in significant financial losses, amounting to as much as £10 billion (approximately $13 billion in US dollars). The lawsuit, which was previously dismissed by the UK tribunal, has now gained new life as the investors seek to challenge the decision. The investors argue that Binance's actions were not only detrimental to BSV's price but also violated UK competition laws. They believe that the delisting was done without proper justification and had a negative impact on the BSV ecosystem. Binance, on the other hand, has maintained that its decision to delist BSV was based on the company's assessment of the cryptocurrency's compliance with its listing criteria. The exchange has not commented on the revived lawsuit, but it is likely to defend its actions vigorously. The outcome of this lawsuit could have significant implications for the cryptocurrency industry. If the investors succeed in their claim, it could set a precedent for how cryptocurrency exchanges handle delistings and the potential legal consequences of such actions. It may also impact how investors perceive and interact with cryptocurrency projects, particularly those that face delistings from major exchanges. As the case progresses, it will be interesting to see how the courts will weigh the arguments presented by both sides and whether the investors will be able to substantiate their claims of financial losses and violations of competition laws.
