XRP Attorney Unveils Advantage in Ripple's Legal Battle with the SEC at Supreme Court

Discovery and Briefing Schedule Submitted in Ripple-SEC Legal Battle

In the legal battle between Ripple and the US Securities and Exchange Commission (SEC), both parties submitted a schedule for discovery and briefing to Judge Torres yesterday. However, pro-XRP attorney Jeremy Hogan has pointed out another very interesting development via X.

Strategic Precedent in Favor of Ripple

In his latest remarks, Hogan has drawn attention to a strategic precedent that could benefit Ripple, citing the Morrison v. National Australia Bank Ltd. case adjudicated by the US Supreme Court. Hogan noted that the Anderson v. Binance case restricted the reach of US securities laws outside of the US, which could help Ripple significantly.

Delving Into Legal Intricacies

Hogan shared a specific insight from the Supreme Court’s decision, pointing out that the court stated that Ripple’s sales must have been in the US or at least on a US exchange. He questioned how the SEC’s expert would get around that and highlighted the importance of transaction location in applying US securities laws.

He also contemplated international ramifications and suggested that if the SEC overreaches, it could provoke an international response similar to that seen in the Morrison case.

Jurisdictional Issues and Potential Settlement

James Farrell mentioned that Judge Torres has previously considered jurisdictional issues in Ripple’s case and Hogan suggested that this might lead to a settlement to speed up proceedings to reach agreement on an amount.

US Banks’ Hesitancy with XRP

Ripple CEO Brad Garlinghouse recently implied that the SEC isn’t looking for a settlement right now, reflecting a broader governmental reluctance to engage with cryptocurrency. He also revealed that US banks are still hesitant to engage with crypto despite Ripple’s legal victories over the SEC.