Legal expert Jeremy Hogan has recently provided insights suggesting that the ongoing Ripple vs. SEC legal saga might conclude within the first six months of this year. This prediction comes in the wake of the SEC’s decision to end its lawsuit against Coinbase, a move that could potentially influence the Ripple case.
In a recent social media post, Hogan speculated that a settlement in the Ripple vs. SEC case might emerge around April or May. However, he mentioned that an even quicker resolution could be possible following the SEC’s decision to halt its protracted legal battle with the Coinbase crypto exchange.
Hogan highlighted that the dismissal of the Coinbase case was definitive, meaning the SEC cannot pursue it further in the future. Interestingly, this decision wasn’t part of a negotiated settlement but rather a unilateral action by the SEC. This implies that the Commission might not be waiting for the confirmation of SEC Chair nominee Paul Atkins before actively engaging in significant cryptocurrency matters.
Given these developments, Hogan anticipates that Ripple vs. SEC could be the next non-fraud case the Commission may choose to resolve. Former SEC official John Reed Stark has also recently suggested that the SEC might soon drop the Ripple lawsuit, drawing parallels with the Coinbase case.
Besides the Coinbase situation, the SEC is also looking to conclude the lawsuit against Binance. The agency has reached an agreement with the crypto exchange to pause legal proceedings for 60 days. This approach signifies a shift in the SEC’s stance toward creating a more regulatory-friendly landscape for the crypto sector, contrasting with the enforcement-heavy strategy of Gary Gensler’s administration.
As a result, many experts are optimistic about a swift resolution. Ripple CEO Brad Garlinghouse expressed his hopes in a recent post, noting that the SEC appears eager to move past the previous administration’s ineffective regulatory and enforcement strategies.
On the flip side, legal pundit Sherrie points out that resolving the Ripple case may not be as straightforward as the Coinbase lawsuit. She argued that the Ripple case is more complex due to an existing ruling, specifically Judge Analisa Torres’ decision that imposed a $125 million penalty on the crypto firm.
Sherrie proposed a scenario where both Ripple and the SEC may seek a reduction in this penalty, potentially lowering the financial burden on Ripple. She also indicated that the chances of the appeal going before the panel have diminished significantly.
According to her predictions, the Ripple vs. SEC appeal could wind down as both parties decide to withdraw their appeal and cross-appeal. The focus would then shift back to the district court, where they would request a penalty reduction from Judge Torres.
