Plus   Neg

Kraken Is Delisting Bitcoin SV


Major cryptocurrency exchange Kraken announced that it would delist Bitcoin SV citing concerns by the bitcon community over its level of standard and ongoing litigation filed against the exchange by the coin's advocates.

In a statement, the exchange said, "Alongside other upstanding members of the community, and in consultation with more than 70,000 Kraken users, we have decided to delist Bitcoin SV."

Deposits will be disabled on April 22. Trading will cease on all trading pairs on April 29. Withdrawals will continue until May 31.

Kraken alleged that over the last few months, the team behind Bitcoin SV have engaged in a behavior completely antithetical to Kraken and the wider crypto community. It started with fraudulent claims, escalating to threats and legal action, with the BSV team suing a number of people speaking out against them. The threats made last week to individual members of the community were the last straw, Kraken said.

The San Francisco-based crypto exchange conducted a survey among its users to know if Kraken should delist Bitcoin SV. 71 percent of respondents were for it. They were of the opinion that the coin is "toxic."

Kraken is the latest among a number of cryptocurrency platforms that have delisted Bitcoin SV, the 14th largest cryptocurrency in the market.

Binance, Shapeshift and Bitrue are the other exchanges that closed the doors to Bitcoin SV.

Bitcoin Satoshi's Vision, or BSV, was created in November last year following bitcoin cash's hard fork.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT