Ripple Requests Monetary Judgement Stay

Ripple recently wrote to suspend the court's economic verdict against the crypto business in favor of the Commission. On August 7, Torres ordered Ripple to pay the SEC $125 million for securities law violations.


Ripple has until September 6 to pay the SEC. The stay request, which Judge Torres granted, meant Ripple would not have to pay the $125 million to the SEC until 30 days after the appeal deadline passed without an appeal or until the Court of Appeals decided on any prospective appeal.

This means that the SEC, which approved the stay request before Judge Torres granted it, may appeal the case. According to legal expert Fred Rispoli, the Commission likely consented to this request since they could pay Ripple an interest on the monetary penalty if the crypto business paid immediately, but the SEC appealed and lost.

Thus, the Commission is willing for Ripple to hold the assets in trust while they decide whether to appeal Judge Torres' order, specifically her finding that XRP wasn't a security. Rispoli boosted its SEC appeal odds to 60% after Ripple's stay request.

The Commission must determine whether to appeal by October 6. Ripple CEO Brad Garlinghouse and CLO Stuart Alderoty have long said that they would not challenge the court's verdict because they consider it as a triumph in their drive for legal clarity.

Ripple Wants Better Crypto Conditions
Ripple's legal struggle with the SEC seems to have prompted it to campaign for better crypto sector conditions to halt the Commission's enforcement operations. Ripple co-founder Chris Larsen was one of 88 business executives who signed a letter supporting Kamala Harris, according to Bitcoinist.

In the past, Alderoty donated $300,000 to Republican presidential candidate Donald Trump. Alderoty may have given because Trump is pro-crypto. Interesting, Trump has threatened to dismiss SEC Chair Gary Gensler on his first day in office if elected. Gensler, an anti-crypto, led the Commission's Ripple lawsuit.

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