A major turning point has occurred in the cryptocurrency legal landscape in the UK! On May 21, 2025, the UK Court of Appeals dismissed most of the $11.9 billion class action lawsuit filed by Bitcoin SV (BSV) investors against Binance, Kraken, ShapeShift, and Bittylicious. This is seen as a landmark legal victory for cryptocurrency exchanges amidst many ongoing legal battles worldwide.

A Six-Year Long Battle

The lawsuit originated in 2019 when Binance, Kraken, ShapeShift, and Bittylicious simultaneously decided to delist Bitcoin SV – a fork from Bitcoin that was heavily promoted by the controversial figure Craig Wright.

BSV investors argue that this delisting has 'killed the potential' of the coin, causing them to miss out on significant profits similar to Bitcoin or Bitcoin Cash. However, the Court of Appeals disagrees with this view.

According to Sir Geoffrey Vos – the Chief Justice of the Court of Appeals and Master of the Rolls – BSV 'is clearly not a unique cryptocurrency without similar alternatives.'

In other words: there are still many other coins available in the market, and investors can pivot instead of stubbornly holding on to BSV.

Investor Responsibility – And Legal Limits

A key point in the ruling is: investors are responsible for protecting their own interests. If they believe that BSV would decline after being delisted, they should have acted immediately – for example, by liquidating or switching to similar assets.

Mr. Vos emphasizes:

'They have an obligation to mitigate damages. They cannot claim compensation for losses they could have avoided.'

This establishes a clear principle: the Court will not compensate for inaction, especially in a highly volatile market like crypto. This serves as a wake-up call for many investors who still hope for a 'miracle' instead of having a clear risk management strategy.

No Place for 'Missed Opportunities'

An important part of the investors' lawsuit is the 'loss of opportunity' to profit – meaning the assumption that if BSV had not been delisted, they could have made a huge profit.

However, the Court completely rejected this argument. The ruling states:

'Cryptocurrency, by nature, is a highly volatile investment. Therefore, the Court cannot award compensation based on assumptions or opportunities that may never materialize.'

That is, only actual losses – that have occurred and can be proven by specific numbers – will be considered. Dreams of 'going to the moon' do not have sufficient legal basis.

A Major Victory for Exchanges

This ruling is not only a victory for Binance but also creates an important legal precedent for future lawsuits.

Even in cases where investors were unaware of the delisting at the time it occurred, the Court still affirmed that:

'Claims for compensation will be limited to the total value of holdings at the time before being delisted, plus any quantifiable losses.'

This reinforces the principle that: without specific damages, you will not be compensated – even if you think you missed the opportunity to 'get rich.'

Good Fortune Is Coming for Binance

This victory comes just days after Binance filed a motion to dismiss another lawsuit worth $1.76 billion from FTX – now initiated by the bankruptcy board of this exchange.

Binance argues that the collapse of FTX was due to internal fraud and not related to them. With the new ruling from the UK, Binance may enter the next legal battle with a stronger position.

Conclusion

This ruling is a clear sign that courts – at least in the UK – are trending towards holding crypto investors accountable for their own financial decisions. Dreams of 'coin prices skyrocketing' without specific evidence will not be considered. This is also a reminder for the entire market: there are no guarantees in crypto – and the law does not protect those who sit idly waiting for luck.