Attorney Jeremy Hogan, who has provided influential insights and analysis in the SEC v. Ripple has made a bold statement regarding the SEC’s recent decision to appeal the ruling on Ripple’s programmatic sales of XRP. He remarked “Big mistake by the SEC, It will appeal the programmatic sales ruling and ‘IF’ it wins, it will get more money from Ripple and have protected no one.” This comment indicates that the SEC’s legal actions may ultimately fail to safeguard investors.
🚨BREAKING: Pro #XRP lawyer Jeremy Hogan says: “Big mistake by the SEC, It will appeal the programmatic sales ruling and ‘IF’ it wins, it will get more money from @Ripple and have protected no one.” pic.twitter.com/cX4t7qsQ7n
— JackTheRippler ©️ (@RippleXrpie) October 3, 2024
The SEC’s appeal follows a mixed ruling from U.S. District Judge Analis Torre, who determined that XRP’s sales did not violate securities laws while finding that direct sales to institutional investors did. The SEC argues that this ruling was “wrongly decided” and is seeking further review, indicating a prolonged legal battle ahead.
What if Ripple wins?
Hogan also highlighted that XRP plans to raise its “Blue Sky” law issue, asserting that if it wins, the SEC’s ability to regulate the entire crypto space could be severely undermined. This potential outcome could reshape the regulatory landscape for cryptocurrencies in the U.S., providing greater clarity and protection for digital asset transactions.
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Ripple CEO Brad Garlinghouse has expressed frustration with SEC’s ongoing legal challenges, emphasizing that the agency’s actions have harmed investors rather than protected them. He advocates for new legislation rather than continued regulatory enforcement, arguing that clear rules are essential for safeguarding retail investors.
As the crypto community watches closely, Hogan’s insights reflect a growing sentiment that the SEC’s aggressive approach may backfire, potentially empowering XRP and other crypto entities to challenge regulatory authority more effectively. The outcome of this case could have significant implications for the future of cryptocurrency regulation in the United States.
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