Australian Exchanges Turn Around, List Bitcoin SV

After the November 2018 fork in which Bitcoin Cash (BCH) forked Away from Bitcoin SV (BSV), most exchanges in Australia had favored BCH with BSV unlisted. This seems to be changing with the recent listing Bitcoin Satosh Vision (BSV) by three exchanges in the country.

Independent Reserve, an Australia-based exchange on February 5 announced that it had listed the BSV-USDT pair. It stated that deposits and withdrawals would commence on Sunday, February 9, 2020.

This development follows previous announcements by two other Australian exchanges, BTC Markets and Coin Spot.

With the support for BSV announced by Independent Reserve, the cryptocurrency would be easily purchased with the Australian dollar by its 120,000 customers. According to Coingeek, the exchange also agreed to release equivalent amount of BSV coins to holders of Bitcoin Cash prior the 2018 fork.

In a blog post by the firm, it stated that:

“Albeit late, Independent Reserve have also taken corrective action in confirming to their customers that if they held BCH in their account during the fork November 16, 2018, at 3:40am AEST then they will be credited with equal amounts of BSV.”

Coingeek added that the exchanges which had hitherto used confusing ticker such as BCHSV to confuse new investors made the right decision in supporting BSV due to the realization that doing otherwise would adversely affect their long-term business interest. The firm also alluded to the fact that the exchanges potentially faced legal actions from customers whose coins had been withheld.

“As an exchange that prides itself on being regulatory compliant, they most certainly would have been subject to facing class action law suit from their customers. Irresponsible decisions by exchanges that impact the customers funds can lead to serious legal issues like Kraken exchange are facing now.”

Proponents of various variants of Bitcoin tend to project their version and actually claim it is the right version. Since the Bitcoin Cash fork of 2017, supporters of the platform have insisted that it is the right Bitcoin just as those backing BSV have claimed with the coin.

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Author: Chris Mharc

Hello, I am Christ Marc, a young crypto enthusiast who has been in the market for a few years, I heard from bitcoin via a few friends and since then I became deeply interesred in this technology, now I am pursuing my studies with the incentive to master tomorrow's technology.

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