With all motions filed in the Ripple-SEC case and all scheduled hearings executed, Judge Analisa Torres could issue a summary judgment anytime soon.
In this light, Pro-XRP lawyer Attorney Jeremy Hogan has dropped another hot take on the ongoing XRP lawsuit, predicting what actions the SEC would or would not take if the presiding judge rules the summary judgment in favor of its opponent, Ripple.
According to the founder of Hogan & Hogan law firm, the U.S. Securities Agency would not appeal if Judge Analisa Torres rules the XRP lawsuit in favor of Ripple and its top executives Brad Garlinghouse and Chris Larsen. This he said in a recent interview with 3T Warrior Academy, giving concrete reasons for this forecast.
As stated by Hogan, the regulatory agency benefits nothing if it appeals to any unfavorable ruling from the presiding judge. Hogan implied that the SEC could also lose in the Second Circuit in the Appellate court if Judge Torres first rules against the agency.
Accordingly, he added that the SEC would not want to risk setting a binding precedent that would hinder its crypto regulation by enforcement tactics.
In his words:
“If the Judge rules in Ripple’s favor, I do not think the SEC is going to appeal. The reason I say that is because there is no benefit to the SEC to appeal because if the case goes to the Second Circuit in the Appellate Court, and the Second Circuit rules against the SEC, now that becomes a binding precedent.”
“I’m 90% sure this is what they will do. When they lose, there won’t be an appeal because they don’t want to m*ss up their whole agenda here and enforce these regulations against the crypto space,”
On the other hand, the San Francisco-based crypto solutions company and cross-border payment firm Ripple had earlier stated its next action if the summary judgment favors the SEC. According to Ripple General Counsel Stuart Alderoty, Ripple would appeal to the second circuit in the Appellate Court and even to the Supreme Court.
However, amid the heightening suspense regarding the outcome of the Ripple-SEC case, Ripple CEO and President are optimistic about a favorable outcome. Crypto investors are equally positive as seen in the notable surge in the price of XRP lately.