Attorney Jeremy Hogan Predicts Outcome of SEC v. Ripple Lawsuit.
New evidence is expected to be unveiled today in the Securities and Exchange Commission’s lawsuit against popular blockchain company Ripple.
The documents, which will be unsealed following Judge Analisa Torres’ ruling last week, will ascertain whether Ripple sold unregistered security in the United States via an offering of XRP.
Many analysts believe the documents would certainly put an end to the SEC lawsuit, as certain reports seem to be in Ripple’s favor.
In a live YouTube session hosted by Scott Powell, COO of Wells Fargo, attorney Jeremy Hogan, who has been vocal about the SEC v. Ripple legal battle, made a special guest appearance on the show.
Commenting on how the lawsuit has gone so far and the possible outcome, attorney Hogan noted that despite several pieces of evidence that could have been provided in the case, he has seen only a few so far.
“There are 100 pieces of evidence out there and we’ve only seen 5 or 10. So far, the litigation has gone very well from Ripple’s perspective, but I’ve only seen five pieces of real hard evidence”, he said.
A Win or a Lose?
In the meantime, vital documents will be unsealed today that could bring the lawsuit closer to its end.
Once the documents are officially unsealed, it is expected that several legal experts, including attorney Hogan, will be able to give a better analysis of the possible outcome.
While some investors expect the outcome could end in a win or loss, several others, like attorney Hogan, predict that the lawsuit will end in settlement.
“The most probable resolution is a settlement and that hasn’t changed since the beginning,” Hogan was quoted as saying.
The Future of XRP
However, should the lawsuit not end in a settlement, Ripple’s XRP’s future will be determined by whether the case will end in a win.
A win for Ripple would promote the widespread adoption of XRP and the possible relisting of the cryptocurrency across various U.S.-based crypto trading platforms.
Furthermore, Ripple could conclude plans to take the blockchain company public. In addition, a win would aid in the classification of crypto assets in the near future.
A loss for Ripple will continue to see XRP delisted on all U.S.-based exchanges. However, XRP trading will still continue in offshore exchanges where the SEC has no control over.