Jeremy Hogan, a pro-XRP lawyer, recently shared his doubts about the SEC winning its appeal against Ripple in the U.S. Court of Appeals for the Second Circuit. Even a win for the SEC may only lead to further legal proceedings.
Judge Analisa Torres ruled in July 2023 that XRP tokens are not securities when sold to retail investors but found Ripple violated laws through institutional sales. This decision contrasts with Judge Jed Rakoff’s ruling against Terraform Labs, which supported the SEC’s stance.
Ripple is now seeking to lower the fines and penalties imposed by the SEC. Hogan criticized the proposed $2 billion fine, arguing it would harm retail investors. This case highlights the ongoing complexities and strategic implications of regulatory actions in the cryptocurrency space.
