In 2020, the US Securities and Exchange Commission (SEC) filed a lawsuit against Ripple Labs, alleging that Ripple and its executives had illegally sold XRP tokens to investors without registering them as securities. The legal dispute has caused significant tension around XRP’s price, which is struggling to climb back to $1. However, according to lawyer Jeremy Hogan, in a recent interview, he revealed that he is confident “the SEC will not appeal if Ripple wins the case.”
Hogan, who works at the law firm Hogan & Hogan, said that the SEC would not see any benefit in appealing if Ripple wins the case. According to the lawyer, the Ripple lawsuit will impact the SEC’s chances of winning other lawsuits against cryptocurrency companies.
“If the judge rules in favor of Ripple, I don’t think the SEC will appeal. The reason I say that is because the SEC has nothing to gain from an appeal. If the case goes to the Second Circuit, the rules of the Second Circuit are against the SEC. Now that becomes precedent that binds them,” he said.
Hogan added, “I’m pretty sure 90% that’s what they’re going to do. When they lose, there will be no appeal because they don’t want their entire enforcement program here and enforcing these regulations against cryptocurrency companies.”
There have been many speculations that the Ripple and SEC lawsuit could end soon, but a recent source revealed that “the lawsuit will continue” due to the delayed ruling.
Ripple lawyer John Deaton explained why Judge Torres took time to make a ruling. According to Deaton, Judge Torres is carefully reviewing all evidence before making a final ruling.
Deaton revealed that the verdict could be the biggest decision in Judge Torres’ career because it could impact the finance industry.
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