Jeremy Hogan, Partner at Hogan & Hogan, has shared his insights on the potential timeline for the XRP vs SEC case resolution.
Prominent crypto lawyer Jeremy Hogan has provided his insights on the potential timeline for the resolution of the XRP vs SEC case. As the Trump administration prepares to take charge in two weeks, with Paul Atkins expected to assume the role of SEC Chair, the cryptocurrency community eagerly anticipates the conclusion of this prolonged legal dispute.
The lawyer was asked whether the case could be dismissed, settled, or dropped by February, to which Hogan replied, "I’d say it's possible but maybe unlikely. 40 days is not a lot of time to get reports together, memos, have the requisite SEC meetings, etc. I’m going with April/May as a likely timeframe."
This estimation is due to the complex administrative processes within the SEC. The process requires extensive documentation, including detailed reports and memoranda, along with multiple internal meetings to reach consensus on such a significant case.
The SEC has a crucial deadline to meet on January 15, 2025, when it must file its appellate brief with the United States Court of Appeals for the Second Circuit. This filing is particularly significant as failure to meet this deadline could result in the dismissal of their appeal.
The market has shown sensitivity to these legal developments, with XRP experiencing notable price volatility. Following the SEC’s announcement of their appeal, the token saw an 11% decline, particularly after the regulatory body challenged the previous ruling that determined XRP was not a security in retail transactions. Recent market data shows XRP trading at approximately $0.5117.
The ongoing appeal has broader implications for the crypto industry, potentially affecting pending XRP exchange-traded fund (ETF) applications. This includes Bitwise’s recent ETF filing, which could face additional scrutiny amid the SEC’s continued enforcement actions.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
