šØ Ripple's legal battle with the SEC: Ripple files for suspension of fine
āļø There's new progress in the legal dispute between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). The lawsuit has been going on for a long time, and now Ripple has requested a stay of execution of the $125 million fine previously ordered by the court.
š Just on Wednesday, Ripple submitted a letter to the court requesting a stay of execution of the fine until the court's ruling on whether its XRP tokens are securities comes out on August 7. They hope to get a response from the court by September 6, when they will pay the fine portion of the judgment.
š The SEC has agreed to Ripple's request for a stay. This means that if the SEC does not appeal, Ripple will deposit the $125 million into an escrow account and wait for the final result. If the SEC decides not to appeal, the money will be released to Ripple after the deadline.
š” Meanwhile, Ripple's request for a stay has caused a lot of discussion in the community. Everyone is speculating whether the SEC will appeal. Well-known lawyer James A. Murphy (also known as MetaLawMan) also conducted an in-depth analysis of the case. He believes that the SEC is likely to appeal because if the SEC does not appeal, Ripple will have to pay the fine.
š As this legal dispute continues, new developments in the case may become another turning point in the case, and will also have a reference significance and long-term impact on the entire crypto industry!
š¬ Do you think Ripple's request to suspend the fine will be successful? At the same time, do you think the SEC will give up appealing? Leave your opinion in the comment section!
