Antitrust Case Accusing Several Crypto-Entities Dismissed by US Judge

As per the latest reports, a court in the United States has recently dismissed an amended complaint that was underway investigation at Miami court. The sources have revealed that the complaint was filed in the form of a lawsuit against nine defendants.

It has been revealed that all of the defendants are belong to or are linked to the cryptocurrency industry one way or another. The names of the defendants include Jihan Wu from Bitmain, Roger Ver from Bitcoin.com, Jesse Powell from Kraken, and developers for open-source Bitcoin Cash.

According to the reports, the complaint has been dismissed by Chris McAliley who is the United States Magistrate Judge. It has been revealed that the judge has dismissed the complaint on Wednesday, March 31, 2021, under the Civil Procedure’s Federal Rule.

For those who do not know, the lawsuit against the defendants has been ongoing for a really long time as it was first filed back in 2018. It took place right after the Bitcoinsv (BSV) and Bitcoin Cash (BCH) network split. At that time, the United American Corp – Unitedcorp (UAC), which is a blockchain company based in Florida sued a number of defendants.

All of the defendants were reportedly well-known developers and veterans from the cryptocurrency industry. In the lawsuit, these developers and veterans were alleged of being involved in a scheme. The scheme revolved around Bitcoin Cash (BCH) market in the cryptocurrency industry. The plaintiff claimed that these parties were involved in manipulating the price and market for Bitcoin Cash (BCH).

The case filed back in 2018 by Unitedcorp (UAC) went on for more than 2 years until February 2020. That is when the case was dismissed by Judge Chris McAliley. The judge went ahead and let the defendants off the hook without prejudice. This meant that the firm that had filed the lawsuit against the defendants could go ahead and make amendments to the complaint that they had initially filed.

However, it seems that the same judge has gone ahead and dismissed the amended complaint that was submitted by Unitedcorp (UAC). While dismissing the complaint, the judge went through a number of amendments with the UAC lawyer that were made in the complaint.

After going through the amendments made in the complaint, the judge shared his comments and remarks on the new filing. He stated that from the looks of the claims made, it is clear that the defendants performed all the actions staying inside the law.

As for the antitrust violation, the judge stated that the plaintiff had failed to provide any strong arguments. Thus, they were unable to present their claims in the right way.

Therefore, the court concluded that Unitedcorp (UAC) was unable to produce any strong evidence against the defendants, and saying this, the hearing was dismissed.