SEC v. Ripple settlement feasible in next two weeks, said top laywer

Rick Steves

“My prediction is that if Gary Gensler is going to pull back from this lawsuit and instead work for more regulatory clarity – it will happen in the next 2 weeks.”

new-york-city

Attorney Jeremy Hogan, a lawyer who has been covering the SEC v. Ripple lawsuit from the beginning, has predicted that if the new SEC Chair, Gary Gensler, chooses to settle with Ripple, that should happen within the next two weeks.

FinanceFeeds covered Mr. Hogan’s remarks in March, when he raised attention to two bombshells dropped by the Judge, consenting on XRP’s currency and utility value. With currencies and securities being two different things, the SEC’s argument that Ripple is security may lose its credibility.

This time, Attorney Jeremy Hogan commented on the most recent legal round, in which Ripple put the SEC to shame for making deliberate omissions and misquoting the Judge.

Ripple’s Memorandum of Law in opposition to the SEC’s motion to strike Ripple’s lack of due process and fair notice affirmative defense was a “Mona Lisa, a piece of art”, the attorney said.

The affirmative defense is important because if the Court finds Ripple lacked Fair Notice, the case is over even if the Court thinks XRP is a security, he explained.

At the end of the video, Attorney Hogan shared his prediction regarding the timeline of the lawsuit, depending on the SEC’s new Chair Gary Gensler strategy for the regulator: to pursue further regulatory clarity or go full steam ahead.

“My prediction is that if Gary Gensler is going to pull back from this lawsuit and instead work for more regulatory clarity – it will happen in the next 2 weeks.

“If we go into June with no settlement then this lawsuit has been adopted and supported by Chairman Gensler for better or worse. If that is the case I predict no settlement until September at the earliest”, he continued.

“If there is no settlement and we go to summary judgment or trial I predict…well, heck I don’t know – do I look like a mind reader?”

SEC’s new Chair, Gary Gensler, is described as “one of the leading reformers after the financial crisis” as he led the CFTC in implementing the Dodd-Frank Act of 2010 and rein in abuses in the swap derivatives market.

Then, he pledged to work to “urgently close the gaps in our laws to bring much-needed transparency and regulation to the over-the-counter derivatives market to lower risks, strengthen market integrity and protect investors.”

Regarding regulatory clarity, the CFTC is watching the lawsuit as it will help to establish the scope of the SEC’s authority in the digital assets space”, said Commissioner Stump.

Also in the context of the SEC’s lack of clarity, XRP holders’ lawyer John E. Deaton said it “doesn’t take an expert to see that plenty is very wrong, very corrupt and very outrageous about the SEC’s lawsuit against Ripple”.

Ripple CEO Brad Garlinghouse has recently said the lack of clarity in U.S. regulation of cryptocurrencies is “frustrating.”

Read this next

Digital Assets

Embarking on a Digital Currency Journey

Imagine you’ve stumbled upon a treasure map, leading you to untold riches hidden in the vastness of the internet. Instead of gold coins and jewel-encrusted goblets, this treasure comes in the form of digital currencies, the modern-day loot coveted by many.

Reviews

Traders Union Experts Share The Trading Analyst Review For 2024

Navigating options trading in rapidly shifting markets poses a considerable challenge. This is where options trading alert services become invaluable. They aid traders in keeping abreast of evolving opportunities and market trends. In this assessment, Traders Union experts scrutinize The Trading Analyst alert service to ascertain its efficacy. 

Digital Assets

BlockDAG’s Presale Achieves $9.9M: Aiming For A 5000-Fold ROI As Cardano’s Price Rises And Fantom Launches Sonic

Explore Cardano’s surge, Sonic’s efficiency, and why BlockDAG’s growth makes it the top crypto choice. A deep dive into the future of blockchain investments.

Digital Assets

US, UK probe $20 billion Tether transfers tied to Russian exchange.

U.S. and UK authorities are investigating the movement of $20 billion in the USD-pegged stablecoin tether (USDT) through Moscow-based exchange Garantex.

Digital Assets

BlockDAG Presale Raises $9.9M as Batch 5 Nears Sell-Out Amid Bonk’s Fluctuating Trading Volume & Spell’s Bullish Price

Explore BONK’s trading volume, SPELL’s market shifts, and why BlockDAG’s 10,000 ROI makes it an ideal crypto for savvy investors in 2024.

Digital Assets

Bybit expands into Europe amid regulatory scrutiny

Dubai-based cryptocurrency exchange Bybit is expanding its operations in Europe after encountering regulatory challenges in Hong Kong.

Digital Assets

Cathie Wood’s sponsored Bitcoin ETF sees historic $200 million inflows

The ARK 21Shares Bitcoin ETF (ARKB), co-sponsored by Cathie Wood’s ARK Invest, registered historic inflows exceeding $200 million on Wednesday, signaling a robust appetite among investors for Bitcoin-centric investments.

Digital Assets

Sam Bankman-Fried might see his 25-year sentence halved

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was sentenced to 25 years in federal prison by a Manhattan court on Thursday. This comes after he was convicted of defrauding customers and investors, with Judge Lewis Kaplan highlighting the potential future risks posed by Bankman-Fried.

Technical Analysis

EURJPY Technical Analysis Report 28 March, 2024

EURJPY currency pair under the bearish pressure after the pair reversed down from the major resistance level 164.25, which also stopped the sharp weekly uptrend at the end of last year,

<