As a crypto investor, I’ve been closely keeping tabs on the XRP lawsuit, and here’s what I’ve learned: Legal experts suggest that the U.S. Securities and Exchange Commission (SEC), under the leadership of outgoing chairman Gary Gensler, is planning to file an appeals opening brief. This action might be a strategic move by Gensler, aiming to stir up some turbulence for Ripple in the final days before he steps down, much like Jay Clayton, the former SEC chair who initiated the lawsuit against Ripple and its executives prior to his departure.
Pro-XRP Lawyer Says US SEC Will File Appeals Opening Brief
In response to questions posed by the Ripple community, Jeremy Hogan, a partner at Hogan & Hogan, addressed speculation regarding when the U.S. Securities and Exchange Commission might submit its opening brief in the ongoing Ripple vs SEC appeal, as indicated in a post on January 7th.
Hogan stated, “Don’t be taken aback when the SEC submits their brief on time, and don’t lose heart.” He emphasized that since the agency is still led by Gary Gensler, there might not be a significant change in the ongoing legal battle even if a new SEC chair is appointed. At present, it is widely anticipated within the community that the SEC may file its documents at the last minute.
It was mentioned that the submission made on January 15th won’t influence whether the case is resolved or dropped by the Trump administration. Nevertheless, it appears that the case might not proceed further under the new SEC Chair, Paul Atkins, as he may opt against pursuing the appeal instead.
As I observe, a legal professional is putting in considerable effort on this case right now, fully aware that his work might not yield the desired outcome, according to Jeremy Hogan’s statement.
Reactions from Former SEC Lawyer
As an analyst, I’m sharing my perspective here: My post seems to have sparked reactions from both the community and former SEC lawyer Marc Fagel. He expressed gratitude towards me for addressing the uncertainties in the XRP community. In response, our team is now compelled to prepare and submit the opening brief as directed by the court.
Additionally, it’s worth mentioning that the 2nd Circuit Court extended the agency’s deadline on this matter last year with a specific order. Moreover, in that order, the court made it clear that no further extensions will be granted in relation to the XRP lawsuit.
Ripple Vs SEC Case Settlement or Dismissal Hopes
In my role as a researcher, I’m sharing insights from an article by CoinGape Media. Jeremy Hogan, a legal analyst, had earlier speculated that Ripple and the SEC might reach a dismissal or settlement during the Trump administration, with Paul Atkins potentially playing a role. He projected a possible resolution of the ongoing lawsuit by April or May this year.
In addition, Marc Fagel suggested that it’s probable for a settlement in the Ripple vs SEC lawsuit since the Trump administration and Paul Atkins might choose not to pursue the appeal. It seems more likely that both parties will come to an agreement and comply with Judge Torres’ order requiring Ripple to pay a penalty of $125 million.
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2025-01-07 12:53