According to Jeremy Hogan, XRP might be used to pay Ripple’s $125M penalty and then included in the US Digital Asset Stockpile.
According to legal expert Jeremy Hogan, Ripple might use XRP to settle the $125 million Penalty in its case against the US SEC. These coins would then be included in the US Digital Asset Stockpile. The Strategic Bitcoin Reserve and Digital Asset Stockpile were established by an executive order signed by US President Donald Trump shortly before this.
US XRP Stockpile May Include Ripple’s $125M Penalty -Jeremy Hogan
According to Jeremy Hogan’s X post, Ripple might settle the monetary judgment against them in the XRP litigation by sending the same amount of XRP to the Federal XRP stockpile address, even if the court awarded the Ripple penalty in US dollars.
The attorney supported his argument that the cryptocurrency company should pay the judgment amount in XRP by referencing a Supreme Court ruling (Willard v. Tayloe). According to Hogan, the court in the Willard case mandated that a contract be performed in gold rather than dollars.
According to the legal expert, the court’s reasoning in that instance was that such relief might be granted if it would further the goals of justice and not cause hardship or unfairness to any party. Therefore, if Judge Analisa Torres, who rendered the decision against Ripple, feels that it does not constitute unfairness, she may permit the cryptocurrency company to pay the judgment penalty in XRP.
Even though the court was in session in equity in the Willard case, Hogan contended that the same principle might apply in the Ripple litigation between the SEC and the cryptocurrency company, particularly if both parties consent to the payment in XRP. The attorney cautioned that this purchase cannot be completed without the Commission’s approval.
Donald Trump’s executive order to create a Strategic Bitcoin Reserve and Digital Asset Stockpile precedes Hogan’s theory. Among the cryptocurrencies that the US will add to its stockpile is XRP.
Will This Arrangement Hold?
According to Hogan, the more significant issue might be that the $125 million ruling against Ripple was a penalty, and the US Treasury must pay fines. He swiftly clarified that since the Treasury is in charge of the XRP stockpile, this shouldn’t be an issue.
When the cryptocurrency company and the SEC decided to escrow the Penalty, pending the length of the appeal, the attorney then brought up the possibility that the US might have missed out on half a billion dollars if Ripple had been forced to convert XRP into dollars.
The government could have made more money if these escrowed payments had been in XRP because the price of XRP has increased since then. Hogan said that if Judge Torres doubts the penalty payment in XRP, this may be a fascinating point to bring up.
