Jeremy Hogan: SEC vs. Ripple lawsuit could continue beyond 2026
lawyer Jeremy Hogan The SEC v. Ripple lawsuit has said it could continue beyond 2026, depending on the outcome of the current lawsuit.
In November 2022, James Filan predicted that Judge Torres would deliver judgment by March 31st. But he passed the date without any judgment being made.
John Deaton later clarified that March 31st was not the deadline. He expects a verdict within the next 30 to 60 days.
However, as Hogan noted, both parties have the right to appeal the judge’s decision, so the next verdict may not be the end of the matter.
SEC vs Ripple
In December 2020, the SEC filed a lawsuit alleging that Ripple raised over $1.3 billion in sales of XRP tokens.
The lawsuit uncovered inconsistencies with regulatory policy and even accusations of risky trading by former senior SEC officials.
For example, former SEC Director William Hinman was accused of corruption due to his association with law firm Simpson Thacher, a member of the Ethereum Enterprise Alliance. Ripple’s legal team argued that the SEC picked winners and losers, including granting Ethereum a “not a security” status.
Over the years, Ripple chairman Brad Garlinghouse has denounced the mistreatment of XRP. very recently, he He took aim at SEC Chairman Gary Gensler, calling him a “dictator” motivated by fostering an ambiguous regulatory environment.
“Why would you want to be clear “inside out” when you act like a dictator running a bloated $2.2 billion agency? “
Hogan’s Legal Analysis
As girling house In his initial reaction to the December 2020 SEC filing, Ripple said it would stand up to the SEC and try to make a fairer deal for the crypto industry going forward.
Hogan He noted that previous SEC crypto litigation was stalled by defendants’ unwillingness to fight and the size of their defense budgets.
But if Ripple is willing to fight and has a huge war chest, it could put an end to fake cryptocurrency lawsuits at the hands of the SEC, Hogan said.
“Ripple has put $100 million into fighting the SEC. And the facts about Ripple are pretty good. Better than most crypto projects. It’s a serious case.”
Considering each scenario, Hogan said that if Ripple were to settle, all the effort and money spent defending that lawsuit would be in vain.
This also contradicts Garlinghouse’s previous intentions to fight for clarity on regulation across the industry.
Hogan believes that if a judge rules in Ripple’s favor, the SEC will likely accept the ruling and not appeal. This is because another favorable Ripple ruling in the Court of Appeals sets a legally binding precedent.
But if Ripple loses, Hogan envisions the company appealing and taking the case to the Court of Appeals. will be well past 2026.
“Time-wise, we’ll make a judge’s decision in, say, April or May. On the second circuit, it won’t be heard until next year. A replacement would take another two or three years.
Jeremy Hogan: The post that the SEC vs. Ripple litigation could continue beyond 2026 was first published on CryptoSlate.