Partner at Hogan & Hogan, attorney Jeremy Hogan had this to say about the SEC v Ripple case, “For all intents and purposes, the Ripple v. SEC cas
Partner at Hogan & Hogan, attorney Jeremy Hogan had this to say about the SEC v Ripple case,
“For all intents and purposes, the Ripple v. SEC case is over. Yes, important hearings will be held in the coming months (deciding a judgment of up to $770 million is of course important). But, YOUR time for hand wringing over this case is done. IMO.”
Hogan went on to say,
“The SEC dismissed the rest of the case, so there will be no trial next year. The facts have been set – nothing new or surprising will be coming out. Which means the Court will be issuing a Final Judgment (probably) sometime next year. Only Ripple needs to worry about that.”
Hogan added,
“The case could of course settle at any time before the Final Judgment is entered. That’s one possibility. If not, both the SEC can file appeals. The SEC indicated that it will appeal – fair enough.”
Previously, Hogan shared his views on the possible outcomes of the case. He put the chances of a settlement by December 21, 2023, at 18.987%.
In addition to the SEC dropping the lawsuit against Garlinghouse and Larsen, the SEC showed intent for a briefing schedule. The language fueled speculation of a settlement and an appeal play.
SEC to Target the XRP Programmatic Sales Ruling
Assuming the SEC and Ripple can find common ground on the “remedies,” the SEC cannot appeal a settlement. However, the SEC may appeal the court ruling on XRP and Programmatic Sales. A punitive settlement on the institutional sales of XRP and a successful appeal of the Programmatic Sales ruling would tip the scales in favor of the SEC.
Ripple may attempt to embed language in a settlement that would prevent the SEC from appealing the Programmatic Sales ruling. The SEC’s intentions will likely become clear at the first briefing schedule.
Plans to expedite the remainder of the case to target the Programmatic Sales ruling would test buyer demand for XRP.
However, there is an alternative theory. The crypto market awaits a court ruling on the Coinbase (COIN) motion to dismiss (MTD) the SEC charges against Coinbase.
CryptoLaw US founder and Amicus Curiae attorney John E. Deaton thinks the SEC will settle the Ripple case if the Judge grants the MTD. The SEC may be looking to wrap up the remaining parts of the SEC case and push Ripple into a substantial settlement before a ruling on the MTD.
Considering the dynamics and influences, several possible outcomes to the SEC v Ripple case need consideration.
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