Renowned lawyers James K. Filan and Jeremy Hogan shared insights into the ongoing legal battle between Ripple and the SEC. Filan noted that all legal documents, including the SEC’s final reply brief, are now public.

Hogan reviewed the SEC’s filing and suggested that their final brief lacked strength. Instead of focusing on challenging Ripple’s XRP sales through ODL, the SEC centered on repeating old arguments. Moreover, Hogan highlighted the absence of new evidence on potential damages.

Jeremy Hogan’s Analysis of the Ripple-SEC Case

A prominent legal commentator, Jeremy Hogan, weighed in on the Ripple-SEC lawsuit, predicting Ripple could face a $100 million penalty rather than the SEC's initial $2 billion request. Hogan and others anticipate appeals from both parties regardless of the judge's ruling.

Context of the Ripple-SEC Legal Dispute

The SEC brought a lawsuit against Ripple in December 2020, alleging violations of securities laws due to XRP sales. Ripple argues that XRP is not a security and should be exempt from registration. A key development in July 2023 saw the court ruling in Ripple’s favor regarding non-institutional XRP sales.

Evaluation of the SEC’s ODL Focus and Ripple’s Strategy

Hogan noted the SEC’s avoidance of addressing Ripple's ODL service, which enables cross-border payments using XRP. Ripple's shift to settling ODL transactions with USDT for U.S. customers mitigates legal risks, showcasing compliance with U.S. regulations and weakening the SEC's penalty case.

Judge’s Verdict and Potential Appeals

Following the briefing phase’s conclusion, parties await the judge's decision with expectations of future appeals. Notably, a recent class action lawsuit against Coinbase involving XRP as a security could impact the broader regulatory landscape if decided against Coinbase and bolster the SEC’s position.

Disclaimer: This article serves informational purposes only and should not be construed as legal, tax, or investment advice.