Crypto exchange Binance seeks to slash size of $13 billion UK lawsuit
economictimes.indiatimes.comCrypto exchange Binance on Wednesday sought to throw out the vast majority of a London lawsuit worth up to 10 billion pounds ($12.8 billion) over claims it and other exchanges colluded to «delist» the Bitcoin Satoshi Vision (BSV) cryptocurrency.
Binance and exchanges including Kraken are being sued at London's Competition Appeal Tribunal (CAT) in a case brought on behalf of over 200,000 BSV owners.
Lawyers representing BSV Claims, a vehicle set up to pursue the case, say the exchanges engaged in anti-competitive behaviour to delist BSV in 2019.
They argue the move caused the value of BSV to plummet and prevented it becoming a «top tier» cryptocurrency, valuing that part of the claim at up to 9 billion pounds.
Did you Know?
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors.
View Details» BSV Claims' lawyers said the exchanges were not opposing the case being certified under the UK's collective proceedings regime, which is roughly equivalent to the U.S. class action regime. Such certification would be just the first step in the lawsuit.
But Binance has asked the CAT to throw out the part of the case about
