SEC Drops Charges Against Ripple CEO Garlinghouse, Chairman Lars.
The regulator had included them as defendants in its securities violation case revolving around XRP transactions, and the agency now says it's just pursuing the central Ripple case.
- Ripple's top leaders are cleared in the SEC's securities-violation accusations that have spent years winding their way through federal courts, bringing the overall case closer to an initial conclusion – and potentially closer to an appeal.
- The case is seen as one of the bellwethers in the ongoing dispute between the crypto industry and SEC in what defines a security.
The U.S. Securities and Exchange Commission (SEC) will no longer pursue claims that Ripple's CEO Brad Garlinghouse or Executive Chairman Chris Larsen aided and abetted the company in violating federal securities laws in its XRP transactions, canceling a trial scheduled for next year and giving the crypto company another victory in the agency's long-running suit against it while moving the regulator closer to appealing a federal judge's ruling in the case.