Binance has sought to dismiss most claims in a UK case related to its delisting of Bitcoin SV (BSV), Reuters reported on June 5. The lawsuit also involves Kraken, Shapeshift, and Bittylicious. Six companies connected to these exchanges appeared before the tribunal with their legal teams today, according to BitMEX Research.

During a hearing, Binance asked the UK Competition Appeal Tribunal to dismiss claims that BSV had the potential to become a major cryptocurrency. Binance's lawyer, Brian Kennelly, argued that investors holding BSV during its delisting did so voluntarily and could have exchanged it for another asset.

While Binance and the other companies do not oppose the case being certified under the UK's collective proceedings regime, which will bring it to trial, the attempted dismissal targets most of the £9 billion ($11.5 billion) of the £10 billion ($12.8 billion) sought by plaintiff BSV Claims Ltd.

The plaintiff's statement alleges that the exchanges colluded to harm BSV's prospects by publicly communicating about the delisting on Twitter (now X), causing BSV's value to drop and preventing investors from withdrawing meaningfully. This supposedly resulted in forced conversions and further losses, violating the UK’s Competition Act of 1998. The case represents 240,000 UK investors.

The delistings occurred in April 2019 amid lawsuits initiated by BSV leader Craig Wright, who claims to be Bitcoin's creator, Satoshi Nakamoto. Binance provided general reasons for the delisting, with former CEO Changpeng Zhao contesting Wright's claims a day before the announcement. Shapeshift and Bittylicious followed Binance's lead, citing Zhao's influence in tweets. Kraken stated that threats and legal actions from the BSV team motivated its delisting and mentioned support from 70,000 users in a poll, which is mentioned as evidence of collusion in the case.