Binance and Kraken Facing Legal Action for Delisting Bitcoin SV Due to CSW’s Satoshi Allegations
Crypto exchanges binance and kraken, BSV Claims Ltd. He will face legal action in London this week as part of a three-day hearing brought by . The legal challenge stems from the exchanges’ decision to delist Bitcoin SV (BSV) in 2019. The delisting follows controversial claims by Craig Steven Wright (CSW) that he is Satoshi Nakamoto, the pseudonymous creator of Bitcoin (BTC).
Binance and Kraken Are Preparing for a Legal Encounter
BSV Claims Ltd argues that BSV’s delisting was based on fraudulent claims and collusion between exchanges, which seriously affected BSV’s value and liquidity. According to BSV Claims Ltd, the exchanges’ actions were not only unfounded but also in breach of competition law. They stated that there had been a breach of Article 101 of the Treaty on the Functioning of the European Union (TFEU) and Part 2 of the United Kingdom’s Competition Act 1998.
Additionally, the case revolves around a series of tweets sent between April 12 and April 19, 2019. These posts are called “Secret Tweets” in which various crypto exchanges, including Binance and Kraken, announced their intention to delist BSV.
This culminated in delisting events between April 15 and June 5, 2019, and followed the Binance and Kraken announcements. Additionally, BSV Claims Ltd claims that these actions constitute an anti-competitive agreement aimed at distorting competition in the cryptocurrency market.
MP Robert Buckland, who will run for Swindon South against Labour’s Heidi Alexander in the upcoming UK general election, has been drawn into the controversy over his consultancy role at BSV Claims Ltd. Buckland, who is paid £5,000 a quarter for six hours a month advising the company, has faced criticism from BitMEX Research. In a post about X, BitMEX noted his involvement in what they described as a “frivolous” lawsuit.
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Information on the Decision Against CSW
Moreover, Judge Mellor’s latest ruling revealed that Wright’s claims to be Satoshi Nakamoto were based on forged documents, adding an important dimension to the existing legal proceedings. Therefore, the hearing will examine whether the exchanges’ decisions to delist BSV were influenced by these false allegations and whether the exchanges acted together to harm BSV’s market position.
BSV Claims Ltd argues that the value of blockchain technology supporting BSV and other cryptocurrencies is significant. They emphasize introducing innovations such as smart contracts and secure record keeping. They also argue that delisting unfairly undermines this potential by harming BSV’s position in the market.
Wright has long portrayed himself as a Polymath, claiming to have written the Bitcoin White Paper and developed the first version of the Bitcoin Source Code. However, the court found that Wright had largely lied and fabricated documents to support his claim to Satoshi Nakamoto.
The final verdict highlights Wright’s dishonesty and reveals that he confused partial truths with lies. Additionally, it was noted that complex jargon was often used to confuse issues. When confronted with evidence against his claims, Wright resorted to more lies and evasion, blaming others.
It is noteworthy that the court identified specific examples of his dishonesty. These include Mr. Matthews’ false statement that he received the Bitcoin White Paper in 2008. Additionally, Wright’s fabrications were found to be clumsy and easily detectable; This led the court to conclude that attempts to prove he was Satoshi Nakamoto were fraudulent.
In addition, his abuses extend to many jurisdictions, including the United Kingdom and Norway, as well as earlier cases such as the Kleiman case. The ruling details Wright’s systematic efforts to deceive the court and points to a serious abuse of legal process.
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