Ripple Granted Delay in Penalty Payment by SEC

According to BlockBeats, on September 5, Ripple's legal team revealed in a document submitted to the U.S. District Court for the Southern District of New York on September 4 that the SEC has agreed to delay the payment of penalties until after September 6. The legal team suggested that Ripple deposit 111% of the judgment amount, approximately $139 million, into a bank account until 30 days after the appeal period expires or any appeals are resolved. Analysts believe that this delay in penalty payment may pave the way for a potential appeal by the SEC. Previously, on August 7, a federal judge ordered Ripple Labs Inc. to pay a civil penalty of $125 million for selling its XRP tokens to institutional investors without registering with the U.S. Securities and Exchange Commission (SEC).