UK Supreme Court refuses BSV appeal, narrowing $13 billion lawsuit against crypto exchanges
The UK Supreme Court denied an appeal in a $13 billion BSV lawsuit, limiting exchange liability for token delisting.Summary
The U.K.'s Supreme Court refused to hear an appeal in a substantial $13 billion lawsuit brought by Bitcoin Satoshi Vision (BSV) investors, upholding lower court decisions that significantly narrowed claims against major cryptocurrency exchanges regarding the token's delisting. The court stated the application "does not raise an arguable point of law or a point of law of general public importance." This refusal is a major legal victory for exchanges like Binance, signaling that U.K. courts are reluctant to support massive crypto claims based on hypothetical market outcomes or speculative future gains. Crypto lawyer Irina Heaver noted the ruling confirms that exchanges are not obligated to maintain liquidity for assets the market distrusts and that repeated litigation cannot reverse reputational decline. The lawsuit, stemming from 2019 delistings following controversy, alleged coordinated breaches of competition law, but the court's decision effectively blocks claims seeking damages for 'foregone growth' after a delisting, reinforcing limits on exchange liability for listing decisions.
(Source：CoinDesk)