Cryptocurrency

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<p>Cryptocurrency exchange Kraken <a href="https://www.courtlistener.com/docket/8150354/zakinov-v-ripple-labs-inc/?order_by=desc&amp;page=1" rel="noopener noreferrer nofollow">has made a decisive move</a> by filing a motion to intervene in the ongoing legal battle between Ripple and its plaintiffs, according to recent court documents.</p>
<p>Kraken's action comes in response to a court order that has compelled all U.S. exchanges to submit private trading data and the identities of customers who traded in Ripple's XRP with the plaintiffs' legal team.</p>
<h2 id="protecting-client-privacy">Protecting client privacy</h2>
<p>In the document, the exchange stated that while it does not oppose the long-form notice proposed by the lead plaintiffs, Kraken fears its clients might misconstrue the company's compliance as support for the lawsuit against Ripple.</p>
<p>The firm asserts its right to clear its stance with its clients, underscoring the need to maintain its reputation and the trust of its users.</p>
<p>By intervening, <a href="https://u.today/cardano-founder-eyes-partnership-with-kraken-for-new-layer-2-blockchain-project" rel="noopener noreferrer nofollow">Kraken</a> aims to ensure that its communications with clients remain unfiltered and transparent amid the ongoing lawsuit.</p>
<h2 id="closer-look-at-ripple-s-legal-woes">Closer look at Ripple's legal woes</h2>
<p>In the legal confrontation between Ripple Labs and a group of plaintiffs led by Zakinov, the central issue at stake is whether <a href="https://u.today/xrp-price-rally-ahead-new-hidden-technical-signal-is-here" rel="noopener noreferrer nofollow">XRP</a> should be classified as a security.</p>
<p>The lawsuit alleges that Ripple conducted an unregistered securities offering, a claim Ripple denies by asserting XRP's similarity to other cryptocurrencies like Bitcoin.</p>
<p>As the case developed, a court order demanding that U.S. exchanges disclose users' XRP trading information raised privacy alarms.</p>
<p>U.S. exchanges, including Kraken, find themselves in a delicate position as they balance compliance with legal requests and the protection of their clients' privacy.</p>

Ripple's Courtroom Drama Escalates With Kraken's Latest Move

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