UK Court Dismisses BSV Lawsuit Against Binance Over Delisting

The High Court in London has dismissed a lawsuit filed by Bitcoin SV (BSV) proponents against Binance, challenging the exchange’s decision to delist BSV in April 2025. In its ruling on June 6, the court found that Binance acted within its contractual rights, emphasizing exchanges retain discretion to manage token listings based on legal and compliance considerations.

Case Background

In April, Binance announced the removal of BSV citing regulatory uncertainty in key jurisdictions. BSV community members, led by nChain executive Jimmy Nguyen, filed suit alleging breach of contract and unfair business practices. They argued that Binance’s notice period was insufficient and caused undue market harm.

Court Ruling

Justice Carter upheld Binance’s terms of service, which grant the exchange unilateral authority to delist assets with 14 days’ notice for any reason. The judge noted the plaintiffs failed to demonstrate any illegality or bad faith, and that Binance’s compliance team acted on legal advice regarding BSV’s classification in multiple jurisdictions.

Market Reaction

BSV price fell 18% to $175 in the hours following the decision, while Bitcoin and altcoins saw mild volatility. Binance’s BNB token dipped 2% amid elevated trading volumes as arbitrage desks adjusted positions. “The ruling confirms exchanges’ right to enforce delisting for compliance,” said on-chain analyst Priya Desai.

Implications

The verdict sets a legal precedent affirming centralized exchanges’ autonomy over listings. Token projects must now prioritize regulatory alignment and clear governance structures to maintain exchange support. Observers warn that other assets facing jurisdictional scrutiny could be at risk if they fail to demonstrate robust compliance.