XRP Lawsuit: Lawyers Confirm Appeals Opening Brief by Gensler’s US SEC
Highlights
- Jeremy Hogan clear the XRP community that SEC under Gary Gensler will file opening brief.
- The court ordered the SEC to sbmit opening brief by January 15, 2025.
- Odds of settlement or dismissal are high due to crypto-friendly Trump administration.
Lawyers closely following the XRP lawsuit have confirmed that the U.S. Securities and Exchange Commission (SEC) under outgoing chairman Gary Gensler will file its appeals opening brief. Experts believe it could be a last-minute filing by Gensler to create headwinds for Ripple similar to Jay Clayton, former SEC chair who brought the case against Ripple and its executives before his exit.
Pro-XRP Lawyer Says US SEC Will File Appeals Opening Brief
Jeremy Hogan, Partner at Hogan & Hogan, responded to queries from XRP army about whether the US SEC will file its opening brief in the Ripple vs SEC appeal, as per an X post on January 7.
Hogan said, “Don’t be surprised when the SEC’s brief IS filed timely and don’t be dismayed.” He highlighted that the agency is still under Gary Gensler. In fact, Gensler and chief litigation counsel Jorge Tenreiro indicated earlier that the legal battle may not shift drastically with a new SEC chair. Currently, the community expects a last-minute filing by the SEC.
He added that the January 15 filing has no impact on whether the case will be settled or dismissed by the Trump administration. However, it seems most likely scenario under incoming SEC Chair Paul Atkins, who may decide not to pursue the appeal.
“An attorney is working hard on this brief as we speak, knowing that all his effort is probably for naught,” added Jeremy Hogan.
Reactions from Former SEC Lawyer
The post gets reactions from the community and former SEC lawyer Marc Fagel. He appreciated Hogan for clearing the doubts in the XRP community. The staff has no choice other than to draft and file the opening brief as ordered by the court, he added.
It is also important to note that the 2nd Circuit Court has already granted an extension order to the agency last year. The court also stated in the order that no more extension would be provided in the XRP lawsuit.
Ripple Vs SEC Case Settlement or Dismissal Hopes
As reported by CoinGape Media, Jeremy Hogan earlier predicted a dismissal or settlement between Ripple and SEC under Trump administration and Paul Atkins. He expected a potential resolution of the lawsuit by April or May this year.
Meanwhile, Marc Fagel also claimed that a settlement in Ripple vs SEC lawsuit is likely as the Trump admin and Paul Atkins may decide not to pursue the appeal. The parties must settle and agree to proceed with Judge Torres’ order on Ripple to pay $125 million in penalty.
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