OKCoin Removes Bitcoin SV, Bitcoin Cash to Avoid Confusing New BTC Clients
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OKCoin Removes Bitcoin SV, Bitcoin Cash to Avoid Confusing New BTC Clients

February 20, 2021      Sahaj Sharma

The CEO of crypto and BTC exchange, OKCoin, Hong Fang has recently made an announcement that they are going to delist both Bitcoin Cash and Bitcoin SV from their platform to prevent confusion among new clients trying to purchase Bitcoin. It turned out to be a choice between securing the open-source spirit of BTC and promoting free-market essentials.

OKCoin Delisting Bitcoin SV and Bitcoin Cash

The management of the OKCoin exchange decided to stop trading both the coins because they create confusion for clients who just joined their platform to purchase BTC.

Moreover, Craig Wright, the creator of Bitcoin SV, played a vital role in the delisting of both the coins. The regular lawsuits and legal threats from the creator lead the exchange to delist them.

Hong Fang, the CEO of OKCoin, addressing their decision to delist Bitcoin SV and Bitcoin Cash, said:

“This is not an easy decision. We had a choice and there is collateral damage, but we had to stand up for the bigger principle we believe in.” 

In addition to this, Hong Fang revealed that their team is trying their best to not enable their opinions to shade their decision-making.

Taking the Delisting Discussion Further

The post shared by the OKCoin CEO read that Bitcoin is the oldest cryptocurrency and gave birth to the entire crypto industry. While the hard forks of the oldest cryptocurrency are nothing but a relatively common occurrence in the crypto ecosystem.

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Both the forks or clones of Bitcoin have emerged in recent years and while the market capitalization of Bitcoin has reached the mark of $1 trillion, BCH and BSV are currently valued at just 1.5% and 0.5% of Bitcoin.

Recently, Craig Wright filed a lawsuit urging several websites to remove the Bitcoin whitepaper, and as a result of that, OKCoin mentioned that the malicious information war waged by Wright just can’t be ignored. They said:

“We view both factors as very destructive to Bitcoin – the cornerstone layer of our industry. Before we have a better way to both separate BSV from Wright’s attack on the open-source community, and to differentiate these two derivative protocols from the original Bitcoin on our platform, we feel more comfortable with removing them.”

#Bitcoin #Bitcoin Cash #Bitcoin SV #Okcoin
Sahaj Sharma
Sahaj Sharma

Sahaj is an aspiring journalist with a keen interest in cryptocurrency and the whole concept of Blockchain technology. He is positive about the future potential of Cryptocurrency and Blockchain in shaping the world of finance for good. At present, he is covering the latest developments in the field of the cryptosphere.