As the XRP lawsuit continues to captivate the crypto community, legal experts suggest that the U.S. Securities and Exchange Commission (SEC), led by outgoing Chairman Gary Gensler, will likely file its appeals opening brief imminently. Observers draw parallels to former SEC Chair Jay Clayton, who initiated the Ripple lawsuit before stepping down, potentially leaving a challenging legacy for Ripple to navigate.

SEC’s Imminent Filing Expected

Pro-XRP lawyer Jeremy Hogan, a partner at Hogan & Hogan, has addressed growing speculation among the XRP community. Responding to inquiries on January 7, Hogan emphasized that the SEC’s brief will likely meet the January 15 deadline. “Don’t be surprised when the SEC’s brief IS filed timely and don’t be dismayed,” Hogan wrote in a social media post, reaffirming the SEC’s intent to maintain its stance despite upcoming leadership changes.

Hogan noted that Chairman Gensler and chief litigation counsel Jorge Tenreiro are steering the case, and the change in leadership may not significantly alter its trajectory. However, with Paul Atkins expected to succeed Gensler, some speculate that the incoming chair could deprioritize the appeal, opening the door for settlement discussions.

Community Reactions and Expert Insights

Marc Fagel, a former SEC attorney, weighed in, echoing Hogan’s sentiments. He clarified that SEC staff is compelled to file the opening brief as per court orders. The 2nd Circuit Court previously granted the agency an extension, stating no further delays would be permitted.

Ripple advocates remain optimistic about a resolution under the new administration. CoinGape Media reports suggest that Hogan anticipates either a dismissal or settlement in the lawsuit by mid-2025, potentially ending the prolonged legal battle.

Settlement Talks Gain Momentum

Speculation about a settlement has intensified, with discussions focusing on Ripple agreeing to pay a $125 million penalty as per Judge Torres’ order. With the SEC’s appeal potentially in flux under new leadership, the crypto world watches closely for what could be a turning point in this high-stakes case.

Also Read: XRP Price Surge: Will Ripple Hit $8.7 or Face a Market Crash?

As the January 15 deadline looms, all eyes are on the SEC’s next move and its potential ripple effects on the broader cryptocurrency landscape.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

Andrew Chen

I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.