What are the SEC’s Possible Moves?
A top US attorney, Jeremy Hogan, believes that the SEC is facing a dead end in its lawsuit against Ripple. He suggests three potential moves that the regulator could make in this case. The first possibility is that the SEC proceeds with a trial in April 2024 against the individual defendants, which Hogan estimates to have a 40% probability. This option could result in negative publicity for the SEC if it loses the trial. The second option is a settlement between the SEC and the individual defendants, with a 32% chance of happening according to Hogan. Lastly, there is a 19% chance of a mutual agreement between the Commission and Ripple by the end of December 2023.
Is Dropping Charges on the Cards?
Yassin Mobarak, founder of Dizer Capital, believes that another possible move for the SEC is to drop all accusations against Ripple and its CEO, Brad Garlinghouse. Mobarak argues that it would not be in the agency’s best interest to have a trial where their corruption could be exposed. He suggests that the SEC might want to end the case quickly so they can appeal to the 2nd circuit and maintain uncertainty in the industry. Mobarak sees litigation as a weapon for creating this cloud of uncertainty.
Hot Take: Uncertainty Continues to Surround Ripple’s Lawsuit
The outcome of Ripple’s lawsuit against the SEC remains uncertain, with various possibilities on the table. Attorney Jeremy Hogan suggests that there is a chance of a trial, settlement, or mutual agreement between Ripple and the SEC. Meanwhile, Yassin Mobarak believes that dropping charges against Ripple might be an option for the SEC to avoid negative publicity. As this legal battle continues, it adds to the ongoing uncertainty surrounding Ripple and its position in the crypto industry. The crypto community eagerly awaits the resolution of this case and its potential impact on Ripple and the wider market.
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