What Could Be SEC’s Next Move If It Loses Summary Judgment? – Crypto News – Crypto News
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What Could Be SEC’s Next Move If It Loses Summary Judgment? – Crypto News

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3 years ago

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The ruling over the Summary Judgment in the crucial US Securities and Exchange Commission (SEC) Vs Ripple Lawsuit, However, an attorney linked to the XRP lawsuit has laid out suggestions on what could be the next legal move that the SEC could exercise.

SEC to put another delay in XRP lawsuit?

As per the reports, SEC, Ripple, and Defendants in the XRP lawsuit have submitted their final briefs to the District Court asking the judge to produce a ruling in their favor.

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Attorney Jeremy Hogan suggested that the SEC could move for reconsideration of the Summary Judgment before appealing it. However, he is unsure whether the commission would appeal a loss as it looks too dangerous.

Hogan highlighted that if the SEC loses on appeal it will project a controlling case authority. As expected this move can lead the commission to lose all cases in the 2nd circuit. attorney hints that the SEC would risk that.

Is SEC willing to take a loss?

Hogan added that it would be better for the watchdog to take a loss in the XRP lawsuit and then it can move on to focus on the fraud and illicit activities in the market. Attorney mentioned that the judge hates the reconsideration.

However, the commission has already taken a move for reconsideration in the XRP lawsuit and if it does this again then it will bring nothing new to the table.

Ashish believes in Decentralization and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

The content presented may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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