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US attorney Jeremy Hogan talked about possible scenarios of the Ripple deal with the SEC.
Explained 3 different scenario.
Hogan & Hogan law firm attorney Jeremy Hogan discussed the Ripple case with the SEC in a Youtube video of the pre-trial scheduled for February 22.
You can watch the youtube video below link.
JEREMY HOGAN'S YOUTUBE VIDEO
Hogan explained in his video how long all the processes will take based on his lawyer's experience.
First scenerio, ripple accepting this deal.
Jeremy Hogan give some important points of the "discovery process", which is a real history at which Ripple and the SEC can ask about submitted documents. At this stage, the parties will be able to mutually request information and documents from each other.
Also, Hogan says that SEC will ask details of the cryptocurrencies. After that, Ripple will share details and currency documents. This step will be completed within eight to nine months, lawyers will decide the deal. Each lawyer will review the submitted documents and determine the probability of winning the case. If a conclusion is reached, both parties can reach an agreement. If Ripple sees its chances low, might accept this deal.
MAY EXTEND TO 2023 ?
The second scenario, according to Hogan, could take place during the discovery phase. Here, both sides can reach a compromise.
The third scenario is about the possibility of not finding a solution.
If no solution is reached, the case could last until October 2021. A deadline is set for "positive action". However, a summary decision can be reached towards the end of 2021.
At the last stage, if an agreement is not reached between all parties and the losing party requests another meeting, the Ripple case could be extended until 2023.
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