SBI Virtual Currencies Boots Bitcoin Cash

News
Tue, 04/16/2019 - 14:36
Alex Dovbnya
💸🌐The delisting drama continues with SBI Virtual Currencies joining the fray
SBI Virtual Currencies Boots Bitcoin Cash
Cover image via U.Today
Contents

SBI Virtual Currencies, the first government-licensed digital assets exchange in Japan, has just made an announcement about delisting Bitcoin Cash. This decision comes shortly after its bitter rival Bitcoin SV was ditched by Binance, raising speculations about a possible connection between the two events.

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Reasons for the snub  

The exchange reveals three reasons why Bitcoin Cash, the fourth biggest cryptocurrency by market capitalization, was given the boot:

  • The significant decline of its market capitalization

  • Safety concerns that are caused by a possible ’51 percent attack’

  • A possible Bitcoin Cash fork could lead to another price decline

As of now, all Bitcoin Cash transactions have been suspended by SBI Virtual Currencies. Additional details about the delisting process will be announced by the end of April.   

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Delisting wars

With that being said, the fact that SBI Virtual Currencies has close ties to nChain and BSV could have also prompted the Japanese exchange to ditch Roger Ver’s Bitcoin Cash. Amidst the #DelistBSV debacle, Ver recently doubled on his criticism of Wright, calling him ‘a liar and a fraud’ in his ‘Special Message to Craig Wright’ video.

BCH, after a strong start on Monday, remains the only top altcoin in the green at the time of writing this article. Meanwhile, as reported by U.Today, the BSV price tanked 24 percent due to the growing backlash against Craig Wright.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.