By Tobi Loba
Jeremy Hogan, the partner at the Hogan & Hogan law company, has recently shared a favorable development in today’s Ripple-SEC lawsuit hearing.
Jeremy Hogan in a tweet that has since gone viral congratulated the XRP community for an encouraging development that played out in today’s hearing.
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According to Hogan, the court is now fully aware of the high interest of the public in the ongoing case between Ripple, the cross-border payment firm, and the United States Securities and Exchange Commission (SEC).
Describing the scenario as a mission accomplished, the lawyer stated that he’s quoting from Judge Netburn’s statement. This implies that the case is currently developing as planned for Ripple.
Jeremy Hogan tweeted, “Congratulations XRP People. By the start of the hearing today the telephone system MAXED OUT at 4k listeners! The Court is very aware of the “High Interest” in the case (quote from Judge Netburn). MISSION ACCOMPLISHED! I need to finish up some pleadings and then home to video!”
Congratulations XRP People. By the start of the hearing today the telephone system MAXED OUT at 4k listeners! The Court is very aware of the "High Interest" in the case (quote from Judge Netburn). MISSION ACCOMPLISHED! I need to finish up some pleadings and then home to video!
— Jeremy Hogan (@attorneyjeremy1) April 30, 2021
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In response to Hogan’s update, a user asked, “Can you ball-park how long the Judge will take to provide a decision? Hours? Days? Weeks?”
“Next week,” Jeremy Hogan said.
Next week.
— Jeremy Hogan (@attorneyjeremy1) April 30, 2021
Today’s Ripple-SEC Lawsuit Hearing in Brief
As reported by U.Today, Judge Sarah Netburn has today ruled on whether or not Ripple will be allowed to send a memorandum of understanding (MoU) requests to foreign regulators to obtain information from the firm’s partners and crypto exchanges outside the United States.
The final verdict will be announced after all necessary things are taken to consideration. This is probably slated for next week as earlier stated by Jeremy Hogan.
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However, Jorge Tenreiro, a senior trial attorney at the SEC, claimed that the MoU process was not essential. He added that the flow of securities and money doesn’t stop at a country’s borders:
“Essentially, what they are asking is to exempt only the U.S. and the SEC from the multilateral process. As the court, the flow of securities and money doesn’t stop at a country’s borders. One of the most important tools in our arsenal is strong cooperation with our counterparts.”
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