XRP Lawsuit Update: US SEC Set to File Appeals Brief Under Gary Gensler Ahead of Deadline
Highlights:
- Pro-XRP attorney Jeremy Hogan confirmed that the SEC, under Gary Gensler, will submit its appeals brief on time.
- The court has mandated the SEC to file the brief by January 15, 2025.
- A settlement or dismissal appears likely with the incoming crypto-friendly Trump administration.
Lawyers monitoring the XRP lawsuit have confirmed that the U.S. Securities and Exchange Commission (SEC) will file its appeals opening brief as required. Legal analysts believe outgoing SEC chair Gary Gensler may make a last-minute submission, reminiscent of former chair Jay Clayton, who filed the case against Ripple just before stepping down.
Pro-XRP Lawyer Confirms SEC’s Filing Plans
In response to community concerns, attorney Jeremy Hogan clarified that the SEC is expected to file the opening brief in its appeal against Ripple. In a recent post, Hogan reassured the XRP community, stating: “Don’t be surprised when the SEC’s brief is filed on time, and don’t be discouraged.” He emphasized that the legal proceedings remain under Gensler’s direction until the leadership transition is complete.
Hogan further noted that the January 15 filing deadline holds little significance for the potential settlement or dismissal of the case under the incoming SEC chair Paul Atkins. There is speculation that Atkins, once appointed, may choose to discontinue the appeal altogether.
Community and Former SEC Lawyer Reactions
The announcement sparked discussions among legal experts and the XRP community. Former SEC attorney Marc Fagel commended Hogan for providing clarity, explaining that SEC staff are compelled to comply with the court’s order to draft and file the opening brief.
It’s also worth noting that the 2nd Circuit Court previously granted the SEC an extension but warned that no additional extensions would be allowed.
Possibility of Settlement or Dismissal
According to CoinGape Media, Hogan previously predicted that a settlement or dismissal could occur under the new administration by mid-2025. Fagel echoed this sentiment, suggesting that the Trump administration and Paul Atkins may prioritize resolving the case rather than pursuing an extended legal battle.
Reports suggest that Ripple may agree to the terms set by Judge Torres, which include paying a $125 million penalty. However, both parties must reach a mutual agreement to finalize the outcome.
With institutional interest and regulatory clarity in focus, the coming months could mark a pivotal moment in the Ripple vs. SEC lawsuit.
