Kraken upholds the confidentiality of its users during the ongoing legal case involving XRP with Ripple Labs and Vladi Zakinov. The American court supported Kraken’s stance and denied the petition to hand over user transaction information in relation to the case. This notable cryptocurrency exchange from the United States has effectively protected the privacy of its clients’ transaction details throughout the current legal battle with Ripple Labs and the complainant Vladi Zakinov. Based on information from an individual who examines blockchain activity, referred to as Mr. Huber, the United States judiciary has agreed with Kraken’s standpoint and has rejected the plea for immediate access to client information as part of the legal action. Consequently, Kraken Exchange will take the responsibility to inform its customers about the collective legal challenge facing Ripple Labs. The message, which will be sent out through email, confirms to clients that their confidential information is still protected and not available to outside entities, according to the announcement. The collective legal claim, started in December 2020, accuses Ripple of circulating XRP without the proper registration as a security. Conversely, Ripple argues that XRP ought to be classified as a currency, much like Bitcoin, as opposed to being a security. In a major event in July 2023, Ripple achieved a crucial victory when a judge ruled against the SEC’s claim that XRP should be considered a security. The court’s decision established an important legal standard for the oversight of digital tokens in the U.S., even as legal disputes continue. In November 2023, the judiciary required all cryptocurrency exchanges operating in the U.S. to disclose private transaction information related to their XRP clients. In addition to requiring the exchange of transaction details, the court ordered the release of information on the identities of customers involved in XRP trades from July 3, 2017, to June 30, 2023. The case takes on a new complexity with the inclusion of Kraken, as the trading platform is challenging a legal directive to reveal the identities of its customers and details of their XRP transactions. In December 2023, Kraken appealed for the safeguarding of confidential customer information via its motion to intervene. The court’s ruling against allowing the unrestricted sharing of user data marks an important victory for the privacy of individuals in the cryptocurrency domain.