- The legal tussle between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs takes another turn, fueling speculations.
- Cryptocurrency legal expert Jeremy Hogan delves into potential outcomes and suggests a settlement date.
The legal standoff between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) remains a key point of interest within the cryptocurrency community. The XRP enthusiasts are especially animated, given recent developments that have stoked discussions about a potential endgame for this lawsuit. The burning question: Might we see an end to this legal tug-of-war in the foreseeable future?
Judge Analisa Torres, presiding over the matter, has instructed both Ripple and the SEC to engage in an in-person settlement conversation before their pretrial conference on April 16, 2024. This clear directive for both parties to “meet face-to-face for at least one hour” to consider settlement terms has set the stage for speculation about a resolution on the horizon.
Hogan’s Insight into the Legal Path Ahead
Jeremy Hogan, a partner at Hogan & Hogan Law Firm and a respected voice in the crypto community, recently provided a detailed breakdown of the lawsuit’s potential trajectories. Hogan identifies three primary scenarios:
- SEC Initiating a Trial Against Individual Defendants (39.456% chance): Hogan suggests that opting for this pathway would entail a wait until 2027 for a conclusive outcome, a prospect the SEC might not relish.
- SEC Settling with Individual Defendants & Securing a Final Judgment against Ripple (32.113% chance): Hogan opines that this would expedite the SEC’s move to an appellate court, potentially bringing closure by August 2026.
- SEC Ending All Legal Proceedings Against Ripple and the Individuals Involved (18.987% chance): Though Hogan pegs this as the least likely route, it would represent a balanced outcome favorable to both sides.
Significantly, Hogan has earmarked December 21, 2023, as the date when a settlement might be reached. With a probability of under 20%, this forecast has electrified the XRP community. As Hogan recently tweeted,
OVERVIEW: The Judge issued a "Summary Judgment" and denied an (early) appeal.
The SEC has a 100% right to appeal when the whole case is finished and that will happen when there is a "Final Judgment."
As you will see, the SEC has no real good options.
— Jeremy Hogan (@attorneyjeremy1) October 8, 2023
Whispers and Predictions from the XRP Community
Beyond Hogan’s analysis, the XRP community is a hotbed of theories and predictions. For instance, influencer Jenny Q believes that a settlement might not be in the offing even with Ripple’s seemingly strong position. Rumors are also afloat about behind-the-scenes settlement talks between Ripple and the SEC.
The ramifications of this lawsuit’s outcome stretch beyond Ripple itself. The broader U.S. crypto industry is keenly watching, as the verdict could shape future regulations. A setback for the SEC might induce a more lenient approach, while a win could signal intensified scrutiny for digital currencies.