The legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) is heating up as the January 15 deadline approaches for the SEC’s opening brief in the appeal process.
Pro-XRP lawyer Jeremy Hogan has provided critical insights into this development, stating that the brief’s filing will not affect whether the case gets dismissed or settled in the future. Hogan emphasized that the procedural step is merely obligatory under the current SEC leadership.
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Insights from Jeremy Hogan
Jeremy Hogan, a prominent legal advocate in cryptocurrency, reassured the XRP community that the January 15 brief filing is procedural and holds no significant implications for the case’s outcome.
Hogan stressed that when the SEC staff prepared a brief as per the regulation, it remains very probable that the new upcoming administration of the SEC under Paul Atkins may change its stance on the appeal.
Hogan added that the brief is prepared by SEC staff under the outgoing Gensler’s leadership. He described the effort as a formality with little long-term significance, especially considering the upcoming change in SEC leadership. These comments from Hogan show emerging signs that the new administration might be more favorable to Ripple and the overall crypto industry.
XRP Community Reacts
Marc Fagel, a former SEC attorney, clarified the ongoing discussion, stating that the SEC staff is bound by current directives to draft and file the appeal brief. Fagel said that the SEC needs to file it regardless of whether or not the agency’s leadership chooses not to appeal. He also pointed out that no extensions would be entertained on this one regarding the set deadlines.
Hogan’s comments sparked mixed reactions within the XRP community. Some users expressed optimism, hoping the incoming leadership would prioritize a settlement. Ferras Khzouz, a community member, thanked Hogan for simplifying the situation and admitting difficulty in interpreting the legal complexities.
Others emphasized the importance of focusing on the potential for resolution under the new administration, which takes office on January 20, 2025.
Broader Industry Implications
The Ripple vs. SEC case is being closely watched as it holds significant implications for regulating digital assets in the United States. While the SEC secured partial victories in earlier rulings, Ripple’s programmatic sales were deemed lawful, creating a complex legal landscape for both parties.
The appeal and potential settlement will play a key role in shaping the regulatory framework for cryptocurrency markets.
Conclusion
Jeremy Hogan’s assertion that the SEC’s January 15 brief will not affect a potential dismissal or settlement has eased concerns within the XRP community. As the appeal progresses and the new SEC administration prepares to take office, the case continues to attract widespread attention.
Observers remain hopeful that a settlement in the coming months will bring clarity and resolution to one of the most significant legal battles in the cryptocurrency industry.
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