Ripple and its cryptocurrency XRP have achieved another legal victory in their ongoing battle against the US Securities and Exchange Commission (SEC). The SEC has dropped its charges against Ripple’s CEO, Brad Garlinghouse, and Executive Chairman, Chris Larsen. The SEC had accused them of facilitating Ripple in violating federal securities laws through XRP transactions. However, the trial scheduled for April 2024 has been canceled, marking the third consecutive legal win for Ripple. In July, a court ruled that XRP was not a security as claimed by the SEC, and subsequent attempts by the SEC to appeal the decision were denied. Ripple’s leadership, including Garlinghouse, celebrated the recent victory and criticized the SEC’s targeting of the company. Ripple’s Chief Legal Officer, Stuart Alderoty, suggested that the SEC’s withdrawal of charges was a result of their inability to defend their pursuit of the executives. Legal experts speculate that this development may pave the way for a potential appeal against the July court ruling.

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Information	Details
Geography	North America
Countries
Sentiment	positive
Relevance Score	1
People	Chris Larsen, Brad Garlinghouse
Companies	Ripple, US Securities and Exchange Commission (SEC)
Currencies	XRP
Securities	None