The legal fight between Ripple and the SEC is far from finished, even though a judge’s ruling in August seemed to wrap things up. Here’s the latest:
Ripple’s Request for a Stay
Ripple recently asked the court to put a hold on the $125 million fine they were ordered to pay the SEC. The judge agreed, meaning Ripple doesn’t have to pay until the SEC decides whether to appeal the ruling. This suggests the SEC is still considering appealing the case.
Why is the SEC delaying?
Experts say the SEC is likely waiting to see if they can appeal the ruling and win. If they appeal and lose, they might have to pay Ripple interest on the fine. So, they’re happy to let Ripple keep the money for now.
Ripple’s Lobbying Efforts
Ripple’s legal battle seems to have pushed them to lobby for more favorable conditions for the crypto industry. They want to end the SEC’s crackdown on crypto companies.
Ripple’s co-founder, Chris Larsen, signed a letter supporting Kamala Harris for president. Ripple’s Chief Legal Officer, Stuart Alderoty, donated to Donald Trump’s campaign, who has been pro-crypto and promised to fire the SEC chair who’s been leading the fight against Ripple.
This shows that Ripple is trying to influence the political landscape to create a more favorable environment for crypto.
The bottom line: The SEC’s decision on whether to appeal will determine the next steps in this ongoing legal battle. Ripple, on the other hand, seems determined to push for a more crypto-friendly regulatory environment. /p>
