In the latest development regarding the ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), Attorney Jeremy Hogan has shed light on the likely cause of the delay in settling the case. Hogan suggests that an injunction imposed by District Judge Analisa Torres is a key factor hindering the resolution, and he anticipates the case could stretch until May 2025.
The SEC has been pursuing Ripple Labs over the sale of unregistered securities, but various roadblocks have prolonged the case. Hogan, a lawyer with deep insights into the case, points to the injunction issued by Judge Torres as a significant complication. In her ruling, Torres restrained Ripple Labs from selling certain securities to the public, which could have long-term implications for the company, particularly regarding a potential Initial Public Offering (IPO).
Hogan noted that Ripple Labs has been trying to persuade the court to lift the injunction, which is not a simple process. In a post on X (formerly Twitter), he stated, “How do you dissolve an injunction? It’s not simple, which is why I think the case doesn’t resolve until April-May.”
The delays in the case come amid other significant SEC actions, such as dismissing charges against Coinbase and halting enforcement against Gemini, which has led to speculation that Ripple’s case may soon conclude. However, the injunction remains a formidable challenge for Ripple.
To dissolve the injunction, Ripple would need to file a well-crafted motion that presents a compelling argument, a process that Hogan describes as time-consuming. Additionally, the SEC would have to sign off on this motion, adding more complexity to the situation. Hogan pointed out that Ripple Labs only has one opportunity to request the injunction’s dissolution, and it must be done with great care.
Hogan expects that, following further deliberations, the case could see its conclusion by May, with Ripple and the SEC likely resolving their appeals by April. Meanwhile, in a notable development for XRP, the cryptocurrency was recently included in the U.S. Crypto Strategic Reserve following an announcement by President Donald Trump, which has driven the price of XRP to new heights.
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