The ongoing legal battle between Ripple and the SEC has led to speculation about each party’s actions if the judge does not favor them. Ripple has already announced plans to appeal the decision if the SEC wins, but the SEC has not disclosed their next move if Ripple were to win. This has sparked debate among crypto community members, with some predicting that the SEC will appeal the decision if they lose, while others believe they will not.
The SEC’s silence has recently sparked a debate among crypto community members. While some crypto enthusiasts expect the SEC to appeal the decision if it loses, others think the regulator won’t appeal.
Hogan’s View on SEC’s Appeal
One person who holds the latter opinion is attorney Jeremy Hogan, a partner at the Hogan & Hogan law firm. In a recent interview with 3T Warrior Academy, Hogan stated that he does not believe the SEC will appeal an unfavorable decision from Judge Analisa Torres, as it would not benefit the regulator.
According to Hogan, the SEC risks creating a binding precedent if the Second Circuit of the Appellate Court rules against them.
He added that the SEC risks setting a “binding precedent” if the Second Circuit of the Appellate Court still rules against the commission.
“If the Judge rules in Ripple’s favor, I do not think the SEC is going to appeal. The reason I say that is because there is no benefit to the SEC to appeal because if the case goes to the Second Circuit in the Appellate Court, and the Second Circuit rules against the SEC, now that becomes a binding precedent.”
According to Hogan, if the SEC loses the case at the Second Circuit, it would have negative implications for the regulator’s ability to win similar cases against other cryptocurrency companies.
“[…] I’m 90% sure this is what they will do. When they lose, there won’t be an appeal because they don’t want to m*ss up their whole agenda here and enforce these regulations against the crypto space,” said Hogan.
