thecryptobasic.com
Pro-XRP lawyer Jeremy Hogan believes there could be significant changes in the SEC cases against crypto-related companies, including Ripple.
Crypto enthusiasts speculate how Donald Trump’s emergence as the U.S. president-elect might impact the broader crypto industry. During his campaign, Trump promised to implement several pro-crypto actions that could make the United States a global crypto leader.
Some of his promises include firing SEC Chair Gary Gensler and supporting favorable crypto policies. However, he did not comment on the existing SEC-filed legal cases against crypto companies like Ripple.
Hogan Reveals the Fate of Crypto Cases Under New SEC Chair
Consequently, crypto community members, especially XRP holders, sought the opinion of legal experts regarding how Trump’s victory might impact the SEC lawsuits against Ripple and other crypto firms next year.
Responding to the inquiry, Attorney Hogan highlighted events that could lead to dismissing or settling all SEC-filed lawsuits against crypto firms by next year. He made the speculation after listening to former SEC official John Reed Stark’s opinion on an X Spaces session.
Attorney Hogan projects that Gensler will step down as SEC Chair before Trump’s inauguration on January 20. Following his departure, the pro-XRP lawyer expects the Trump administration to appoint a pro-crypto interim head for the SEC. He said the new SEC chair would order the resolution of all non-fraud crypto cases, including the Ripple lawsuit.
The lawyer speculates that the SEC would heed this directive, assess all non-fraud crypto cases, and recommend a settlement or outright dismissal.
The assessment team will then submit the recommendation to the Republican-led SEC commissioners, who will vote on whether to dismiss or settle the lawsuits. Interestingly, Hogan forecasts that the SEC will approve the recommendation with three ‘yay’ from the Republican commissioners.
SEC to Settle Ripple Case
He forecasts that the SEC will settle the Ripple case or any other non-fraud crypto lawsuit with a ruling. Specifically, he expects Ripple to pay the judgment amount of $125 million to settle with the SEC. It is worth mentioning that a federal judge ordered Ripple to pay a fine of $125 million for violating federal securities laws through its institutional sales of XRP.
Although the company had made preparations to pay the fine, the SEC appealed the Ripple decision, especially the parts it lost like programmatic sales and other distributions, stalling the payment.
With the SEC expected to get a new leadership under Trump’s administration, Attorney Hogan believes the commission will settle the Ripple lawsuit for the judgment amount of $125 million.
The lawyer forecasts that the SEC will dismiss the other cases still in litigation, including the Coinbase lawsuit. Meanwhile, Attorney Hogan projects that the settlement and dismissal of crypto-related cases will not happen in January but before the summer of 2025.