- Pro-XRP attorney Jeremy Hogan discusses the potential outcomes of the SEC’s appeal against Ripple.
- The SEC’s appeal focuses on Ripple’s sales on exchanges, not XRP’s status as a security.
- Hogan predicts exchanges will continue listing XRP, provided Ripple isn’t facilitating sales.
Ripple, the renowned blockchain payments firm, finds itself in the spotlight once again as the U.S. Securities and Exchange Commission (SEC) contemplates an appeal in their ongoing case. Jeremy Hogan, a pro-XRP attorney, has shed light on the situation, emphasizing that the SEC’s potential appeal focuses solely on Ripple’s sales on exchanges.
Interestingly, the appeal doesn’t challenge XRP’s status as a security. Hogan further elaborates that even if the SEC emerges victorious in the appeal, crypto exchanges are likely to maintain XRP listings.
The only condition would be ensuring that Ripple isn’t directly facilitating the sales of the token. This distinction is crucial, as the lawsuit primarily revolves around Ripple’s programmatic sales, leaving individual XRP transactions unaffected.
The legal tussle began in late 2020 when the SEC accused Ripple of selling XRP as an unregistered security. A significant ruling came in July when Judge Analisa Torres declared that Ripple’s open-market XRP sales weren’t securities transactions. However, she agreed with the SEC’s stance that Ripple’s direct XRP sales to institutions were indeed securities offerings.
Looking ahead, the crypto community remains optimistic about Ripple and XRP’s future. As the legal landscape evolves, many believe that XRP will continue to solidify its position in the crypto space, offering innovative solutions and fostering global financial inclusivity.
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