Crypto exchange, OKCoin, has delisted Bitcoin Cash (BCH), which is a fork of the leading crypto asset, Bitcoin (BTC). The exchange also went on to delist Bitcoin SV (BSV) which is a fork of BCH too. According to the crypto company, it made this choice in a bid to protect its clients who have no prior experience with the crypto space and also as a statement of principle towards the general crypto industry.
The firm went on to state that its decision was borne out of the need to create less confusions for users who join its platform to buy BTC. While also adding that the threat of a lawsuit being pushed by a proponent of BSV, Craig Wright, also played a role in its decision to delist both crypto assets.
Craig Wright has threatened lawsuits against platforms hosting the white paper of the leading crypto asset. He had also made claims that he is Satoshi Nakamoto, the founder of Bitcoin; a claim many in the crypto space have disagreed with mostly.
Bitcoin vs Bitcoin Cash vs Bitcoin Sv
Hong Fang, the CEO of OKCoin, has said that the decision was not an easy one but the firm had to stand up for the bigger principle it believed in. He also added that “we wouldn’t have changed that if it weren’t for Craig Wright posting these threats to the open-source dev community. We think these threats are very destructive to development of BTC as a whole.”
Fang went on to highlight the confusion that comes with having BSV, BCH and BTC on its platform as “the names have caused a lot of confusion about what is the real bitcoin among new entrants.”
BCH was created by copying and tweaking the open source code of BTC. While BSV was created out of BCH and it has more larger blocks than its predecessor.
Many crypto exchanges, like Kraken, Binance and others, have chosen to delist BSV with many of them citing this confusion and the legal threat posed by Wright for their choice.