This request was filed on September 4, 2024, in the US District Court for the Southern District of New York, seeking to delay the financial penalties until after a court ruling on whether Ripple's XRP token is classified as a security.

Ripple Labs has requested a stay on a $125 million monetary penalty imposed by the court in its ongoing legal dispute with the SEC.

If the SEC does not appeal, the funds will be released from escrow after the specified deadline.

Should the SEC choose to appeal, the stay will remain in effect for 30 days following the expiration of the appeal period or any appeal decision.

Legal experts speculate that the SEC's potential appeal indicates that the legal battle, which began in December 2020, may not yet be over.

Ripple CEO Brad Garlinghouse stated that the company has no plans to appeal and considers the ruling a victory, while also emphasizing the growing opportunities for Ripple's enterprise products.

Ripple has added EVM compatibility to the XRP Ledger, allowing developers to create their own tokens and build DeFi products.

Ripple has been ordered to pay this penalty, which is significantly less than the SEC's initial demand.

Ripple's legal team has indicated that the SEC has agreed to delay the payment of the judgment beyond September 6.

Despite the ongoing legal issues, Ripple is advancing its product offerings, including a stablecoin called RLUSD, which is set to launch soon.

The motion for a stay has sparked speculation in the legal community regarding the SEC's next steps, with some suggesting that Ripple should file a cross-appeal to avoid admitting liability for the fine.

This development could have significant implications for the cryptocurrency industry as the legal battle continues.