Connect with us

News

Kraken disables Bitcoin SV deposits; BSV community should denounce ‘frivolous lawsuits,’ says Jesse Powell

Avatar

Published

on

Bitcoin SV deposit disabled in Kraken; CEO Jesse Powell wished BSV community to denounce "frivolous lawsuits"
Source: Pixabay

Even as Bitcoin Satoshi’s Vision [BSV] continues to trade well on market charts, troubles for the controversial fork coin continue to add up. In a recent development, Kraken announced that it was disabling Bitcoin SV on its exchange platform. The official tweet read,

“Bitcoin SV [BSV] deposits are now disabled. Deposits currently pending will be credited shortly. If you send funds in now, you may not be credited until after trading is disabled on April 29th. Please withdraw all BSV by May 31st, 2019.”

While responding to a Bitcoin SV supporter who questioned whether the Ripple “lawsuit” prompted the exchange platform to delist its native token XRP, Jesse Powell, Kraken’s CEO, clarified that Ripple never filed a lawsuit against the platform. He termed the squabble as a “personal dispute,” adding that XRP was already listed at that time. Powell also tweeted that he wished the BSV community was more “outspoken” to denounce the “frivolous lawsuits” filed by community leaders against Kraken.

Many BTC proponents also called out another Bitcoin hard fork, BCH, to be delisted from the platform in Kraken’s original Twitter thread.



This move stemmed from last week’s announcement by the San Francisco-based exchange. Kraken, in an official blog post, had revealed its plans to delist BSV after taking into consideration the over 70,000 users on its platform. The exchange platform claimed that the coin’s team was involved in fraudulent claims and was threatening on social media platforms. Taking legal action against individual members of the community who held dissenting opinions from the BSV bunch was however, the “last straw.” The blog concluded by stating,

“There is no room for bad actors.”

The unified delisting call from the crypto community was spurred by Craig Wright’s lawsuit against the #LNTrustChain initiator, Hodlonaut and Bitcoin proponent, Peter McCormack.





Subscribe to AMBCrypto’s Newsletter




Follow us on Telegram | Twitter | Facebook



Chayanika holds a Journalism degree and is currently working with AMBCrypto. She is inquisitive about everything that the Blockchain Technology has to offer.

Bitcoin

SEC delays VanEck Bitcoin ETF decision days after delaying Bitwise proposed rule change

Priya

Published

on

By

SEC delays VanEck Bitcoin ETF decision days after delaying the Bitwise proposed rule change
Source: Unsplash

The Securities and Commission Exchange [SEC] has yet again delayed another Bitcoin ETF. This time around, the commission has decided to delay the VanEck Soldix Bitcoin ETF, one of the most awaited exchange-traded funds in the cryptocurrency community.

In the document released today, the exchange has asked for more comments on the proposed rule change and has also asked for further information on queries related to the exchange-traded fund. The commission stated that it has received 25 comments on the proposed rule change so far.  It stated,

“On January 30, 2019, Cboe BZX Exchange, Inc. […] filed with the Securities and Exchange Commission, […] a proposed rule change to list and trade shares of SolidX Bitcoin Shares issued by the VanEck SolidX Bitcoin Trust […] The proposed rule change was published for comment in the Federal Register on February 20, 2019.”

It further stated

“On March 29, 2019, pursuant to Section 19(b)(2) of the Act, the commission designated a longer period within which to approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether to disapprove the proposed rule change.”

Notably, the main concerns of the commission continue to be market manipulation and the measure taken by the platform to protect its investors. The commission is currently seeking comments on 14 queries pertaining to the VanEck Bitcoin ETF.



This includes the views of the ‘commenters’ on whether the exchange has entered “into a surveillance-sharing agreement with a regulated market of significant size related to bitcoin?”, the relationship between the Bitcoin futures markets and the Bitcoin spot market, with the focus being price formation, the relationship between the Bitcoin futures market and the proposed Bitcoin ETF, and the commenters’ views “of the Exchange’s assertions that bitcoin is arguably less susceptible to manipulation than other commodities that underlie ETPs”.

Gabor Gurbacs, Director of Digital Assets Strategy with VanEck said on Twitter,

“The VanEck SolidX #Bitcoin #ETF decision has been postponed by the SEC. We continue the hard work towards better-regulated, safer and more liquid digital assets markets. Bitcoin is too big to ignore. Vires in numeris!”





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending