The UK Supreme Court has refused to hear an appeal in a $13 billion lawsuit by Bitcoin Satoshi Vision investors.
The decision upholds lower-court rulings that narrowed claims against major cryptocurrency exchanges over BSV's 2019 delisting.
In a brief ruling released December 8, the court said BSV Claims Limited's "application does not raise an arguable point of law or a point of law of general public importance."
The decision represents a significant victory for exchanges including Binance and Kraken.
What Happened
BSV Claims Limited brought the lawsuit on behalf of approximately 243,000 UK-based BSV holders.
The claimants alleged exchanges coordinated to remove BSV in violation of UK competition law.
Multiple exchanges delisted BSV between April 15 and June 5, 2019, following controversy surrounding the project and its supporters.
The exchanges named as defendants included Binance, Kraken, ShapeShift, and Bittylicious.
BSV Claims argued the delistings caused the token's price to collapse and prevented it from achieving growth comparable to Bitcoin.
A subgroup of approximately 75,000 investors sought damages for "foregone growth" based on speculative future value.
The Court of Appeal dismissed this "lost chance" theory in May.
The appellate court ruled BSV holders aware of the delistings were required to mitigate losses by selling in available markets.
The Supreme Court's refusal to hear the case effectively ends this legal avenue for claimants.
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Why It Matters
The ruling establishes important precedent on exchange liability for delisting decisions.
Irina Heaver, a Dubai-based crypto lawyer and founder of NeosLegal, said the outcome sends a clear signal to the industry.
"Repeated litigation cannot substitute for market acceptance and trust," Heaver told CoinDesk.
"Courts are not a tool for reversing reputational decline or reviving contested projects when the market has already rendered its verdict."
The decision blocks claims that exchanges can be held liable for speculative future gains allegedly lost after delisting tokens.
The court rejected the "lost chance" theory that stretched damages law to enforce speculative narratives in cryptocurrency.
Bitcoin has risen 2,322% since BSV's April 2019 delisting to reach all-time highs above $124,000.
BSV has traded around $18 to $19 in recent months, highlighting the token's divergent trajectory.
Heaver emphasized that exchanges are permitted to act to protect their traders and business operations.
"Delisting is not market abuse," she said.
"Trust, reputation, and risk perception are fundamental in the crypto industry."
BSV Claims Limited did not immediately respond to requests for comment.
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