On Wednesday, the Australia-based firm announced that trading for the cryptocurrency will stop at 2 PM AEDT on March 28, and all open orders will be automatically canceled after that. Independent Reserve is giving its users six months to withdraw their BSV tokens. IT added that those who make withdrawal requests after the grace period might face delays and incur additional processing fees.
BSV and Satoshi Nakamoto
BSV, which stands for Bitcoin Satoshi Vision, was created in 2018 as a fork of Bitcoin Cash (BCH). The coin’s supporters claim that BSV’s cheaper transaction fees align with Bitcoin (BTC) creator Satoshi Nakamoto’s original vision for the flagship cryptocurrency. Computer scientist Craig Wright, who claims to be the pseudonymous creator of Bitcoin, is the creator of the BSV token.
Delisting by other crypto exchanges
Independent Reserve is the latest crypto exchange to delist the altcoin. In 2019, Binance, the biggest Bitcoin exchange by volume, also decided to delist the BSV, citing that the coin failed to meet high standards. The delisting notably happened days after Binance CEO Changpeng Zhao (CZ) warned to pull the plug on the cryptocurrency in response to Wright attacking Twitter users who accuse him of falsely claiming to be Satoshi Nakamoto. Following Binance’s move, other crypto exchanges decided to delist, deny or delay access to BSV. These include San Francisco-based crypto exchange Kraken, which cited that the team behind BSV is engaged in behavior that it considers as anti-ethical.
