Jeremy Hogan, a top attorney supporting XRP, has offered valuable insight into the potential next steps for the SEC. Hogan shared his comments on X, responding to James K. Filan, another well-known attorney who shared an update on the now-concluded XRP lawsuit.
According to Filan’s post, Ripple requested a stay of the monetary portion of the court’s ruling from August 7, which the SEC consented to.
Hogan is speculating on the SEC’s plans to file an appeal, providing some clarity on the possible timeline and the procedural steps involved.
Why Has the SEC Not Appealed the Ruling?
The question of why the SEC has not yet filed a Notice of Appeal has stirred much speculation within the community. Filing such a notice is a straightforward task, one that, as Hogan notes, takes only 15 minutes and allows 70 days to submit the actual brief.
This relatively simple process has led to confusion as to why the SEC has not made a move yet, especially if it considers the ruling to have set “bad case authority.”
Hogan stated that if the SEC had already decided to appeal, there would be little reason to delay this procedural step. Hogan suggests that the SEC has not decided on its next steps and whether it will appeal.
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Potential Timeline for a Ruling if the SEC Appeals
When asked by a community member about the potential timeline for an appeal, Hogan responded that a ruling on an appeal would likely not be issued until “next year – probably in the late summer.” Hogan suggests the case could be drawn out for many more months, even if the appeal is filed soon.
Legal processes, especially those involving regulatory bodies like the SEC, often take longer due to the complexity of the issues involved, and appellate courts may take several months to reach a decision.
Given the impact of the initial ruling, any appeal is likely to draw significant attention from the broader cryptocurrency community, as it could set a precedent for how tokens are regulated in the U.S.
For now, the delay in filing a Notice of Appeal may indicate that the SEC has not yet reached a decision. It is also possible that the agency is weighing the implications of appealing the case and considering its strategy, especially as its budget was slashed recently.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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