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- Jeremy Hogan estimates a 40% chance of a trial in 2024, a 32% chance of settlement, and a 19% chance of reaching an agreement by the end of 2023.
- Some believe that the SEC may expand legal measures to maintain uncertainty in the cryptocurrency sector.
- Yassin Mubarak suggests that the SEC may drop the charges against Ripple to avoid negative publicity.
What are the potential moves of the SEC?
Jeremy Hogan – Senior US lawyer and partner at Hogan & Hogan – Believes The US Securities and Exchange Commission (SEC) faces a deadlock in its lawsuit against Ripple. In a recent post to X (on Twitter), he outlined potential steps the regulator could take to make the most of the case.
Hogan believes there is about a 40% chance the SEC will move forward with prosecuting the individual defendants in April 2024.
“The judge left only the hardest part of the case to trial. The SEC could easily take ‘L’ at trial and air out some of its dirty laundry at the same time.”
This option seems likely as it would allow the regulator to appeal the decision by 2025 and possibly wait for the court’s ruling in 2026. Some individuals have previously suggested that the SEC would not wave the white flag (despite Ripple having the upper hand in the battle) but prolong the process for as long as possible. Possible.
Hogan’s second assumption involves a settlement between the watchdog and the individual defendants. He believes this is the SEC’s “best option,” as the chances of this happening are about 32%.
It is also believed that there is a 19% chance that the Commission and Ripple will shake hands on a mutual agreement by the end of December 2023.
Last but not least, he left an 8.6% chance for some unexpected scenario, saying: “Who knows.”
Are fees dropped on cards?
Another step the SEC could take in the lawsuit against Ripple is to drop all charges against the blockchain company and its CEO – Brad Garlinghouse. At least that’s what Yassin Mubarak – founder of private equity firm focused on tech startups Deezer Capital – said. Believes. According to him, it is not in the agency’s interest to hold a trial “where their corruption could be exposed.”
“They will now move to end this case as soon as possible so they can appeal to the Second Circuit and continue to maintain this cloud of uncertainty over the entire industry. Litigation itself, regardless of the outcome, is a weapon,” he said.
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