243,000 BSV Investors File Class Action Against Four Exchanges For £9.9 Billion

Key Points:

• BSV Claims Limited has filed a class-action lawsuit against four crypto exchanges, including Binance and Kraken, which have 234,000 UK residents with BSV.
• The lawsuit alleges that four exchanges delisted BSV in 2019 and caused investor losses, claiming £9.9 billion in damages.
• The court is expected to issue a ruling in the next few months on whether the case can continue, according to a memo issued by law firm Crowell & Moring LLP.

According to Bloomberg, BSV Claims Limited filed a class action lawsuit against four cryptocurrency exchanges, including Binance and Kraken.

There are 234,000 British residents with BSV. The lawsuit alleges that the four exchanges delisted Bitcoin Satoshi Vision (BSV) in 2019 and caused investor losses, claiming 9.9 billion pounds (about $12.11 billion).

The case sets some of the most influential figures in cryptocurrency against the illustrious group of UK parliamentarians. It charges that the removal of the digital token from their marketplaces three years earlier resulted in investor losses on exchanges, including the biggest in the world, Binance.

The court is expected to issue a ruling in the next few months on whether the case can continue, according to a memo issued by law firm Crowell & Moring LLP.

BSV Claims Limited was established in May 2022 to launch a class action against exchanges for delisting BSV. The company’s directors include former justice and justice minister Robert Buckland and the first chairman of the UK Competition Market Authority, David Currie.

Class-action lawsuits could now serve the same purpose for investors looking to prevent significant losses, just as the boom days of digital currency brought together unlikely casts of characters looking to get rich quickly. This is demonstrated by the alliance of established figures with colorful crypto entrepreneurs.

It has also led others to question the judgment of politicians who are willing to work for a mysterious offshore organization that is funded by a person who has run-ins with the law in the US and Canada.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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