Kraken has secured a major victory in an ongoing legal battle between Ripple and a group of XRP investors. The crypto exchange intervened in the lawsuit to protect its customers’ data, arguing that the information of these individuals shouldn’t be released without their permission.
What Kraken’s Victory Means For Its Customers
The court ruled that Kraken should be allowed to inform its customers of the proposed class action, with these users deciding whether or not they wanted to be part of the legal battle. The customers in question happen to be persons who purchased XRP tokens on the crypto exchange between July 3, 2017, and June 30, 2023.
Kraken is expected to send these customers a notice informing them of the proposed class action against Ripple and how they could have an important stake in the case. The crypto exchange will also let them know that they can choose to do nothing or exclude themselves which would mean that they are not interested in joining the class act
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