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Pro-XRP Lawyer Decodes Potential Ripple v. SEC Appeal

Mon, 07/17/2023 - 09:26
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Gamza Khanzadaev
Jeremy Hogan analyzes potential appeal of SEC's case against Ripple
Pro-XRP Lawyer Decodes Potential Ripple v. SEC Appeal
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In the latest development surrounding the highly anticipated Ripple v. SEC case, legal expert, attorney and digital assets enthusiast Jeremy Hogan has provided his insights into the possibility of an appeal. With his extensive experience in the field, Hogan has shed light on the factors that could influence the decision-making process of both parties involved.

Ripple and XRP Triumph May Be Cut Short on Appeal, Thinks SEC Veteran

Hogan points out that appeals are generally pursued after a case reaches its final judgment. However, since the Ripple case is yet to conclude, any potential appeal would fall under the category of an interlocutory one. Such appeals are rarely granted, especially if they involve sensitive information that could disrupt the proceedings.

While Judge Torres did not certify her ruling for immediate review, indicating that an interlocutory appeal may not be granted, the parties still have the right to pursue a regular one once the trial and post-trial motions are completed next year.

Who would benefit from this?

According to Hogan, most attorneys believe that the SEC will appeal. However, he personally speculates that neither party is likely to choose to do so.

Appeals are known to be challenging to win, and it is Judge Torres who has already reviewed the comprehensive record of the case, says Hogan. Furthermore, the SEC potentially stands to lose more than it could gain from an appeal, as a favorable ruling could set a precedent that affects subsequent court decisions.

'XRP Is on Shaky Ground,' Says SEC Official: Prepare for Appeal

In contrast, Ripple may opt not to appeal if it can pay the fine imposed and if the ruling's impact on its business, particularly aspects related to the ODL (On-Demand Liquidity) service, remains manageable. Hogan suggests that these factors point toward a "no appeal" scenario for Ripple too.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.