BSV Slides Below $50 as Coinbase Ends of Support for Bitcoin SV

Coinbase, America’s largest cryptocurrency exchange, announced its plans to end support for Bitcoin SV on its platform.According to the announcement, Coinbase will cease to support the BSV asset as of early next year, and users are urged to take action before January 9, 2024, to safeguard their holdings.

The notice stated, “Users are able to withdraw BSV funds until support for the asset is deprecated on January 9, 2024, at or around 12 p.m. ET. If you fail to withdraw your BSV funds, Coinbase will liquidate any remaining BSV remaining in your Coinbase account.” Coinbase further mentioned that the liquidated funds would be converted into the cash equivalent market value of another digital asset, with a warning that they may be subject to tax liability.This move by Coinbase is not entirely unexpected, as the exchange had previously delisted BSV in 2021.

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Source: Digital Coin News (digitalcoinnews.net)

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