The U.S. Securities and Exchange Commission (SEC) is unlikely to appeal the results of its lawsuit against Ripple, according to attorney Jeremy Hogan. The judge agreed with the SEC that Ripple’s direct sales of XRP to institutional participants were a securities offering. Hogan believes that neither party will appeal the ruling and that Ripple will likely end up paying a fine to the SEC. He explains that appeals are difficult to win, and the SEC has more to lose than gain by appealing. Ripple probably won’t appeal if it can pay the fine and if the ruling doesn’t negatively impact its business.

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