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Tweet-related crypto class action to proceed, but faces significant headwinds

A statue of Satoshi Nakamoto, a presumed pseudonym used by the inventor of Bitcoin.
Satoshi Nakamoto, pseudonym used by the inventor of Bitcoin. Photo: Janos Kummer/Getty Images

Simon Day | Macfarlanes, Emma Radcliffe | Macfarlanes, Greg Dowell | Macfarlanes, Madeleine Brown | Macfarlanes+2

6 min read
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Class action against cryptocurrency exchanges for losses allegedly caused by collusion to delist the Bitcoin Satoshi Vision cryptocurrency. 

In July 2024, the Competition Appeal Tribunal (the Tribunal) partially allowed a strike-out application, whilst agreeing to certify, a class action brought by BSV Claims Limited (BCL) against a group of cryptocurrency exchanges for losses allegedly caused by collusion to delist the Bitcoin Satoshi Vision (BSV) cryptocurrency. 

Background

Cryptocurrencies are

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