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XRP Lawsuit News: Will the New SEC Administration Decide Not to Pursue the Appeal?
The ongoing Ripple vs. SEC case has been generating significant buzz as the January 15 deadline approaches. Speculation surrounding the case has intensified, with many wondering how it will ultimately play out. Jeremy Hogan, a well-known legal expert, recently suggested that the case might settle in April or May, which could lead to a favorable outcome for XRP holders.
However, some have raised questions, asking why a settlement is necessary if the SEC lost the case. Advertisement
Former SEC attorney Marc Fagel provided clarity on the matter, explaining that the SEC did not lose entirely; rather, they won in part and lost in part. Both parties have appealed the portions of the case they were dissatisfied with, as is their legal right.
Fagel noted that the court ruled in favor of the SEC by agreeing that Ripple had illegally sold over $700 million in unregistered securities, particularly in institutional sales, and imposed a $125 million penalty on Ripple for the violation. Despite this, both Ripple and the SEC are currently in the process of appealing the aspects of the case they lost.
This has led to the penalty being put on hold until the appeal process is resolved. Fagel stated that the new SEC administration may decide not to pursue the appeal further, potentially paving the way for a settlement in line with the court’s previous ruling.
As a result, Ripple’s $125 million penalty could be reduced or even dismissed entirely.
Source: coinpedia.org
