Binance has announced it will delist controversial cryptocurrency Bitcoin Satoshi Vision (BitcoinSV).
The confirmation came via a blog post, in which it detailed its processes for ensuring projects meet its “high level of standards”.
“Based on our most recent reviews, we have decided to delist and cease trading on all trading pairs for the following coin on 2019/04/22 at 10:00 AM UTC,” wrote Binance, before naming BitcoinSV as the only project to be delisted.
Binance explained factors including quality of development activity and public communication, evidence of unethical and fraudulent conduct, and contribution to a healthy and sustainable cryptocurrency ecosystem were considered before making this decision.
“When a coin or token no longer meets this standard, or the industry changes, we conduct a more in-depth review and potentially delist it. We believe this best protects all of our users,” it said.
The Bitcoin community has been dealing with some fresh furore, after pseudonymous Twitter user “hodlonaut” was threatened with legal action since disputing the legitimacy of nChain’s chief scientist Craig Wright, one of the lead brains behind the BitcoinSV cryptocurrency.
Craig Wright is not Satoshi.
Anymore of this sh!t, we delist! https://t.co/hrnt3fDACq
— CZ Binance (@cz_binance) April 12, 2019
After Bitcoiners banded together to support hodlonaut’s legal defense, Binance CEO Changpeng Zhao warned BitcoinSV proponents he had the power to remove the cryptocurrency from his exchange service if he so desired.
As it turns out, he did desire, and the markets have responded already. The price of BitcoinSV immediately dropped 7 percent, from $70 to $65.