As a seasoned researcher who has closely followed the dynamic landscape of digital currencies and their regulatory battles for years, I find myself intrigued by Ripple’s latest move. Having observed similar scenarios unfold across various industries, it seems that Ripple is strategically playing the waiting game to maximize its potential gains.
Ripple, a firm based in San Francisco, has submitted a document asking for a delay in enforcing the money-related part of the court’s final decision, which was made public on August 7th
Notably, the agency has consented to the request for a stay.
According to U.Today’s report, Ripple has been mandated to cover a penalty fee of approximately $125 million, which represents just a small portion of the original sum sought by the Securities and Exchange Commission (SEC)
Some legal experts argued that both parties were unlikely to appeal the order on remedies.
Instead, Ripple is choosing not to pay the fine to the agency immediately; they will wait for the period of 30 days following any possible appeals or their resolution before making the payment
If the SEC does not appeal, the funds will be released from the escrow upon the deadline passing.
Ripple intends to get the highest possible compensation from the Securities and Exchange Commission (SEC) if their appeal against the lawsuit is unsuccessful
As per the latest disclosure, I find that the company maintains the ownership benefits of the Fund and any accumulated interest; however, it holds no authority or control over the Fund’s operations
According to attorney Fred Rispoli, as of now, the Securities and Exchange Commission (SEC) hasn’t received instructions regarding their decision, and this approach seems to be the most prudent one to hold off, considering the October 7th deadline is approaching
In the meantime, Stuart Alderoty, Ripple’s lead attorney, stated that Ripple’s legal position remains unaffected should the SEC decide to file an appeal
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2024-09-04 22:06