Crypto News

Bitcoin SV (BSV) Delisted By Independent Reserve

The largest Aussie cryptocurrency exchange Independent Reserve announced that it is delisting Bitcoin SV (BSV) and all related trading pairs, effective on March 28 at 2 p.m. AEDT.

“In light of recent events and community feedback, Bitcoin SV (BSV) and related trading pairs will be delisted,” the exchange announced. 

After March 28, all open orders will be automatically cancelled. Independent Reserve is giving its users six months to withdraw their BSV tokens. Adding that those who make withdrawal requests after the grace period might face delays and incur additional processing fees. 

BSV, short for Bitcoin Satoshi Vision, was created in 2018 as a fork of Bitcoin Cash (BCH). The coin’s supporters claim that BSV’s cheaper transaction fees align with Bitcoin creator Satoshi Nakamoto’s original vision for the leading cryptocurrency.

Computer scientist Craig Wright, who claims to be the pseudonymous creator of Bitcoin, is the creator of the BSV token.

Bitcoin SV Delisted From Another Exchange

Independent Reserve is the latest crypto exchange to delist BSV. In 2019, Binance, the biggest Bitcoin exchange by volume, also decided to delist the altcoin, citing that the coin failed to meet high standards.

“At Binance, we periodically review each digital asset we list to ensure that it continues to meet the high level of standard we expect. When a coin or token no longer meets this standard or the industry changes. We conduct a more in-depth review and potentially delist it. We believe this best protects all of our users,” Binance said in a statement.

BSV’s delisting comes just days after Binance CEO Changpeng Zhao warned to pull the plug on the cryptocurrency. Responding to Wright attacking Twitter users who accuse him of falsely claiming to be Satoshi Nakamoto.

Following Binance’s move, other crypto exchanges decided to delist, deny or delay access to BSV. The list includes San Francisco-based crypto exchange Kraken. Which cited that the team behind BSV is engaged in behavior that it considers anti-ethical.

“It started with fraudulent claims, escalating to threats and legal action. The BSV team suing a number of people speaking out against them,” Kraken said.

“This aggression will not stand. Alongside other upstanding members of the community, and in consultation with more than 70,000 Kraken users, we have decided to delist Bitcoin SV.”

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Matt Borelli

Matt Borelli is a staff writer at CoinChapter, covering the daily developments in the cryptocurrency world. He is a Bitcoin enthusiast and proud Dogecoin holder. When not reporting on the latest cryptocurrency news, Matt can be found at the nearest baseball stadium.

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