TechFlow news: Ripple Labs' legal team has filed a motion with the U.S. District Court for the Southern District of New York, requesting a stay of enforcement on the portion of the August 7 ruling that requires the company to pay a $125 million penalty.
According to documents dated September 4, the SEC has agreed to delay payment of the penalty beyond September 6. Ripple's attorneys have proposed depositing 111% of the judgment amount (approximately $139 million) into a bank account until "30 days after the appeal period expires or any appeal is resolved."
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