Lawyer Jeremy Hogan said the SEC vs. Ripple lawsuit could run beyond 2026, depending on the outcome of the current case.
In Nov. 2022, James Filan predicted Judge Torres would deliver her verdict by March 31 – setting off a buying frenzy in the run-up. However, the date passed with no judgment given.
John Deaton later chimed in, clarifying that March 31 was not the deadline. He expects the verdict to come within the next 30 to 60 days.
However, as pointed out by Hogan, the upcoming verdict may not be the end of the matter, as both parties have the right to appeal the judge’s decision.
The SEC vs. Ripple
In Dec. 2020, the SEC brought legal proceedings against Ripple on allegations it had raised over $1.3 billion in the sale of XRP tokens – an unregistered security per the agency.
The lawsuit has uncovered inconsistencies with regulatory policies, even accusations of dodgy dealings at the hands of senior ex-SEC personnel.
For example, Former SEC Director William Hinman was accused of corruption due to his ties with the 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 “not a security” status.
Over the years, Ripple Chair Brad Garlinghouse has blasted the unfair treatment of XRP. Most recently, he took aim at SEC Chair Gary Gensler, calling him an “autocrat” motivated by encouraging a vague regulatory landscape.
“When you behave like an autocrat running a $2.2B bloated agency, why would you ever want to provide clarity about what’s “in or out”? “
Hogan’s legal analysis
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Author: Samuel Wan
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