Senior lawyer Jeremy Hogan evaluated the possibility of a compromise between Ripple and the SEC in the XRP case. According to the famous lawyer, this possibility is not excluded, but it is quite low.
Parties in Ripple and SEC case are preparing their next moves
As you follow on Kriptokoin.com, we are approaching the end of the XRP case. American lawyer Jeremy Hogan, blockchain payment company Ripple Labs Inc. He argues that the settlement in the long-running case with the United States Securities and Exchange Commission (SEC) is a good option. By the way, it should be noted that Judge Analisa Torres rejected the SEC’s appeal. Following this, some confusion arose regarding possible next moves in the Ripple and SEC case. Lawyer Jeremy Hogan is trying to clarify these.
Despite the defeat, the regulator still has the opportunity to appeal the case. However, he can only do this once the entire case is over and a “Final Decision” has been announced. Looking at the situation, Hogan argues that the SEC doesn’t really have a good option. Therefore, it outlines the various possibilities going forward and the likelihood of each occurring. It also includes the timeline for each of the options.
XRP case: Is there a possibility of a full settlement?
First, it is possible that the SEC may decide to proceed with the hearing, which is scheduled for April 2024. So he can focus his prosecution on the company as well as two Ripple executives named as defendants, Brad Garlinghouse and Chris Larsen. Hogan sees the probability of this event occurring as 39.456% out of 100. At the same time, moving the case to trial means the SEC won’t be able to file an appeal until 2025, and the appeal decision won’t be issued until 2026. Additionally, if the SEC wins on appeal, things will get even more complicated. Because the appeals court will most likely send the case back to Judge Torres for further proceedings. However, it’s hard to say this is a good fit for the SEC.
The second option would be for the SEC to deal with Garlinghouse and Larsen while awaiting a final decision against the fintech firm. According to Hogan, the probability of this happening is 32,113%. But according to Hogan, this is the SEC’s best option. Ultimately, it is possible that the SEC may choose to settle with Ripple and the individual defendants in the case. But so far, it doesn’t seem interested in a regulatory compromise. Moreover, according to Hogan, there is only an 18.987% chance of such a compromise.
The popular lawyer believes that choosing the settlement option would be a big win for the regulator, which already appears to be on the losing side. If the SEC decides on this option, Hogan says it has a chance to get a “big check from the bad guys,” referring to Ripple.
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