Exchange delists Bitcoin Cash for 'decrease in market cap', ties with BSV?

16 Apr, 2019 | Updated: 16 Apr, 2019
by Jelmer van der Dussen
Exchange
Exchange delists Bitcoin Cash for 'decrease in market cap', ties with BSV?

SBI Virtual Currency, a licensed Japanese cryptocurrency exchange has announced today that it has delisted Bitcoin Cash. The news comes a day after Binance announced the delisting of Bitcoin SV, the Bitcoin Cash hardfork that has come under fire lately.

Koji Higashi, a Bitcoin supporter on Twitter reporting on Japanese news, states in a tweet that 'many wonder if the delisting of Bitcoin Cash on SBI is because of its close relationship with nchain and Bitcoin SV'. Both nchain and BSV are connected to Dr. Craig Wright, who claims to be Satoshi Nakamoto and threatens with legal action against anyone who denies he is the inventor of Bitcoin.

Binance announced on Monday that Bitcoin SV will be delisted from the exchange, which led to many BSV investors selling their BSV for Bitcoin Cash. Shapeshift has also decided to delist Bitcoin SV, and Kraken is seriously thinking about it.

Today, Bitcoin Cash has been delisted from SBI. In the official statement, SBI says that there are 3 reasons for delisting BCH: 1. 'A significant decrease in the market cap of Bitcoin Cash' 2. 'A high possibility of a 51% attack' 3. 'It is impossible to completely deny the possibility that the price will fall sharply following the hard fork'.

With the community asking more exchanges to delist Bitcoin SV, some people are suggesting to rebrand all the Bitcoin forks to prevent new investors from buying coins that look like Bitcoin, but are in fact not Bitcoin.

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