#Binance judicial victory with partial rejection of action regarding Bitcoin SV in UK court

Judges in the UK rejected a lawsuit of US$ 11.9 billion filed by BSV investors, claiming they could have mitigated losses after Binance and other platforms removed the token.

The UK Court of Appeals partially rejected a lawsuit brought by Bitcoin SV investors against major cryptocurrency exchanges, including Binance, for allegedly conspiring to remove the token in 2019.

In a ruling handed down on May 21, the court determined that investors who held BSV during the removal period (classified as "subclass B") are not entitled to billions in damages for speculative gains based on a hypothetical growth of BSV.

These investors had requested over £8.9 billion (US$ 11.9 billion) in damages, claiming that Binance's removal of BSV deprived holders of the chance to profit from a potential appreciation of the asset, which could have become a "top-tier cryptocurrency" like Bitcoin (BTC) or Bitcoin Cash

BCH

R$ 2,591.78

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The court rejected this "lost growth effect" theory, stating that "BSV was obviously not a unique cryptocurrency without reasonably similar substitutes," highlighting the very use of Bitcoin and Bitcoin Cash as comparisons by the plaintiffs.

The main claim of subclass B was that the removal of the token led to the loss of the opportunity to benefit from its appreciation. However, the court concluded that these investors had ample opportunities to mitigate losses by selling or reinvesting in other crypto assets.

"They had a duty to mitigate their losses," wrote Master of the Rolls, Sir Geoffrey Vos. "They cannot claim losses that could reasonably have been mitigated." #Binance