Cryptocurrency

<figure>
 <figcaption>
  Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<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

목차

U_Today

2023년 12월 22일에 게재된 다른 기사

NRG Head Coach Criticizes LCS Management’s Communication

Gold-Backed Token: How Does It Work?

Spot ETFs Awaited With Growing Excitement, Growing Interest Seen In Arbitrium And Borroe Finance

Analyst claims Bitcoin halving is ‘all hype, no substance’ – Is it?

Criminals Exploit AI to Scam Parents with Cloned Voices of Their Children

HTX Exchange Ventures Invests in Academic Labs to Drive Web3 Education Transformation

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!