Attorney Jeremy Hogan, who provided influential insight and analysis in the SEC v. Ripple case, made a bold statement regarding the SEC’s recent decision to appeal the ruling regarding Ripple’s programmatic sales of XRP. He remarked: “Big mistake on the part of the SEC, they will appeal the decision on programmatic sales and “IF” they win they will get more money from Ripple. and I didn’t protect anyone. This comment indicates that the SEC’s legal actions may ultimately fail to protect investors.
🚨BREAKING: Pro #XRP Attorney Jeremy Hogan says: “Big mistake on the part of the SEC, they will appeal the decision on programmatic sales and “IF” they win they will get more money from @Ripple and I didn’t protect anyone. pic.twitter.com/cX4t7qsQ7n
-JackTheRippler ©️ (@RippleXrpie) October 3, 2024
The SEC’s appeal follows a mixed ruling from U.S. District Judge Analis Torre, who determined that sales of XRP did not violate securities laws, while concluding that direct sales to institutional investors did. . The SEC says the decision was “wrongly made” and is seeking further review, indicating a protracted legal battle ahead.
What if Ripple won?
Hogan also pointed out that XRP plans to raise the issue of the “Blue Sky” law, saying that if it wins, the SEC’s ability to regulate the entire crypto space could be severely compromised. This potential outcome could reshape the regulatory landscape for cryptocurrencies in the United States, providing greater clarity and protection for digital asset transactions.
Ripple CEO Brad Garlinghouse expressed frustration with the SEC’s ongoing legal challenges, pointing out that the agency’s actions have harmed investors rather than protecting them. He argues in favor of new legislation rather than continued enforcement, arguing that clear rules are essential to protect retail investors.
As the crypto community watches closely, Hogan’s ideas reflect a growing sentiment that the SEC’s aggressive approach could backfire, potentially allowing XRP and other crypto entities to more effectively challenge authority regulation. The outcome of this case could have significant implications for the future of cryptocurrency regulation in the United States.
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