The U.S. Securities and Exchange Commission (SEC) has dropped its aiding and abetting charges against Ripple’s top executives, CEO Brad Garlinghouse and co-founder Chris Larsen. The charges were related to the SEC’s lawsuit from 2020, which alleged that Ripple issued XRP as an unregistered security. However, the courts recently ruled that the firm’s sales of the asset were not securities transactions. Ripple has described the SEC’s move as a “stunning capitulation” and criticized the regulator for targeting them instead of focusing on criminals stealing customer funds. The company also claims that the SEC’s actions have pushed crypto innovation out of the US, with 90% of its business now outside of the country. Larsen believes that the SEC’s decision vindicates them against the regulator’s political agenda to “suffocate crypto in America.” Following the news, XRP rose 7% and is currently trading at $0.52.

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