In a blog post, Independent Reserve, Australia’s largest digital asset exchange, announced that it would be delisting Bitcoin SV (BSV) on March 28. All BSV trading will discontinue, and open orders will be canceled on that day, but exchange users will be given a six-month grace period to withdraw their funds. Bitcoin SV, or Satoshi’s Vision, is one of the biggest cryptocurrencies on the market in terms of market cap. The origin of the cryptocurrency goes back to 2017 when a Bitcoin hardfork created Bitcoin Cash. The following year Bitcoin Cash itself had a hardfork, creating Bitcoin SV.
BSV continues to be surrounded by controversies.
The reasoning behind the development of BSV is tied to the long-standing scaling debate in the crypto community. BSV increased its block size to 128 MB in order to fulfill what was laid out in the original Bitcoin whitepaper. Despite its market position, BSV has found itself at the center of one controversy after another since its birth. This has been mostly due to Craig Wright’s involvement, the notorious Australian developer who claims to be Satoshi Nakamoto. The reasoning behind the development of BSV is attached to the long-standing scaling debate in the crypto community. BSV increased its block size to 128 MB in order to fulfill what was laid out in the original Bitcoin whitepaper.
Earlier Wright’s behavior led to the delisting of BSV from many exchanges.
In 2019, Craig Wright’s behavior led to the delisting of BSV from many prominent crypto exchanges. Wright was lashing out on Twitter against those who were questioning his claims of being Satoshi at that time. Allegedly, Wright went as far as proposing a bounty on the identity of one user who had accused him of lying. The resulting backlash was swift and came in the form of delistings and industry figures condemning Wright.