Is the US Securities and Exchange Commission (SEC) hitting a wall in its ongoing legal battle with Ripple? Jeremy Hogan, a renowned US lawyer and a partner at Hogan & Hogan, suggests that the SEC might be at a dead end. In a recent tweet, Hogan outlined the potential outcomes of this high-stakes lawsuit.
SEC’s Potential Courses of Action
Hogan offers his probabilities for the possible turns this case might take. According to his estimates, there is a:
- 40% chance of the SEC taking the case to trial in April 2024 against the individual defendants.
- 32% chance of a settlement between the SEC and the defendants.
- 19% chance of a mutual agreement between the SEC and Ripple by the end of 2023.
- 8.6% chance for unpredictable scenarios, encapsulated in Hogan’s phrase, “Who knows.”
Hogan argues that a trial, despite being the most challenging route, could expose some of the SEC’s questionable practices. Conversely, he sees a settlement as the SEC’s “best option”.
Could the SEC Drop the Charges?
Yassin Mobarak, founder of Dizer Capital, a private equity firm focused on tech startups, suggests another possible move by the SEC. He believes that the SEC might consider dropping all charges against Ripple and its CEO, Brad Garlinghouse. According to Mobarak, the SEC would want to avoid a trial that could expose its own shortcomings.
The Impact on the Crypto Sector
Some believe that the SEC might be intentionally prolonging the legal process to maintain uncertainty in the crypto sector. This litigation, regardless of its outcome, could be seen as a weapon to sustain a cloud of uncertainty over the industry. It’s a complex situation that many, including users of the cryptoview.io application, are keenly watching.
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