Kraken Follows Binance, to Delist Bitcoin SV

Bitcoin Remains Above $5,000 BTC  USD After Price Correction From $5,300 Exchange Rate

Bitcoin Remains Above $5,000 BTC USD After Price Correction From $5,300 Exchange Rate

The Japan-based cryptocurrency exchange today issued a notice in which it clarified the basis of removing BCH-enabled instruments.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins. The first crypto exchange, wasn't a big success, but Binance was.

"It is impossible to completely deny the possibility that the price will fall sharply as additional hard forks are made", states the document.

BSV has crashed this week on the back of the delisting controversy. Now, the major cryptocurrency exchange Binance has announced that it will delist Bitcoin SV from its trading platform.

The Binance, shapeshift and blockchain wallet stopped their support for the assets. For example, Kraken Exchange is now holding an open poll on Twitter over whether to delist Bitcoin SV or not. In the press release, Binance mentioned that when a cryptocurrency/coin which is already listed on the platform, does not meet their standards or the changes in the industry, they perform an in-depth review and if then delist it from the platform in order to protect their customers. That leaves the Japanese cryptocurrency community with questions like why SBI waited for six-months to delist BCH.

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Kraken's CEO Jesse Powell admitted that the exchange was not a "big fan of the project", but chose to support trading BSV because of customer demand.

It is notable that Binance and ShapeShift have also taken this decision due to the inappropriate behavior of Craig Wright, the outstanding proponent of Bitcoin SV, who ostracized himself from the crypto community several times by claiming he is the real Satoshi Nakamoto and threatening to sue everybody who claims he isn't. As of August 2018, there were about 1,600 digital tokens in circulation, all of them inspired by Bitcoin in some way or the other.

It could be possible that Bitcoin Cash failed the SBI's metric test when it came to protecting itself against external threats. Changpeng Zhao's brainchild is now the world's largest crypto exchange, and is also Bitcoin kind of a leader, setting an example for others to follow. However, the users will be able to withdraw their coins until 22nd July 2019.

SBI has suspended BCH transactions taking place on its trading platform.

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