The post Ripple’s Legal Battle With SEC Continues appeared on BitcoinEthereumNews.com.

The long-running legal battle between Ripple and the US Securities and Exchange Commission (SEC) has yet to be concluded despite Judge Analisa Torres’ August 7 ruling, which appeared to have ended the case. This follows a recent development showing that the SEC is still considering appealing the court’s ruling.  Ripple Requests Stay On Monetary Judgement Ripple recently filed a letter requesting a stay on the court’s monetary judgment awarded against the crypto firm in favor of the Commission. In her judgment delivered on August 7, Torres ruled that Ripple should pay the SEC a fine of $125 million for violating securities laws.  Ripple was meant to have paid the SEC by September 6. However, the stay request, which Judge Torres granted, showed Ripple would no longer have to pay the $125 million to the SEC until 30 days after the expiration of the time allowed for an appeal with no appeal filed or after a decision by the Court of Appeals resolving any potential appeal. This suggests that the SEC, which consented to the stay request even before Judge Torres granted it, is still considering appealing the case. As explained by legal expert Fred Rispoli, the Commission likely agreed to this request as they could pay Ripple an interest on the monetary judgment if the crypto firm were to pay now, and the SEC ended up appealing and losing the appeal.  XRP is currently trading at $0.52. Chart: TradingView As such, the Commission is content for Ripple to keep the funds in trust while they weigh their options on whether to appeal Judge Torres’ ruling, especially the one in which she declared that XRP wasn’t a security in itself. Rispoli also increased the likelihood of an SEC appeal to 60% following the stay request put forward by Ripple.  The Commission…

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Filed under: News - @ September 8, 2024 12:03 am