SBI Holdings Claims BCH Removal From Its Exchange Was Just A Coincidence
The Japanese company SBI Holdings informed that the decision to remove Bitcoin Cash (BCH) from is trading platform was not related to the controversy that Bitcoin SV (BSV) is currently experiencing. The information was released by Cointelegraph Japan a few hours ago.
SBI Holdings Delists BCH
Bitcoin Cash and Bitcoin SV are direct competitors. Both of them want to scale their networks and both of them claim to be Bitcoin. Nonetheless, each of these digital assets has been affected by different controversies.
One of the last things that had a negative impact on Bitcoin SV is related to the fact that several exchanges, including Binance and ShapeShift decided to delist the virtual currency created by nChain’s Craig Wright.
In all this controversy, SBI Holdings decided to delist Bitcoin Cash from its exchange. Bitcoin SV forked from the Bitcoin Cash network in November 2018. After this event, the cryptocurrency market crashed and reached the lowest level in more than a year.
SBI’s move to delist Bitcoin Cash could also be related to partnerships that the firm has established with nChain. Thus, some individuals speculated that there was a conflict of interest behind.
In a statement shared with Cointelegraph Japan, the firm commented that they have a business relationship with Mr. Craig Wright but their decision to delist BCH is not related to the fact that BSV was delisted by non-Japanese exchanges.
According to the company the decision to stop offering support to Bitcoin Cash was done in consultation with the Japanese Virtual Currencies Exchange Association. Thus, the timing to delist the digital asset is just coincidental.
Currently, Bitcoin Cash is the fourth largest digital asset in the market. In the last 24 hours, BCH lost 2.47% of its value and each coin can be purchased for $299. It also has a market capitalization of $5.32 billion. Meanwhile, Bitcoin SV has been severely affected this week. Each BSV can be bought for just under $60 and it has a market capitalization of $1.05 billion.