The US Securities and Exchange Commission (SEC) has dropped charges against Ripple CEO Brad Garlinghouse and Executive Chairman Chris Larsen, according to a statement from the company. The SEC brought the charges against Ripple and the two executives in December 2020, alleging that distributions of the digital asset XRP should have been registered as a security. Ripple won a victory in July 2023 when a ruling declared XRP was not a security. The SEC then tried to appeal the court’s ruling, but that effort failed. On Monday, October 25, the SEC dismissed with prejudice the claims against Garlinghouse and Larsen that were scheduled for trial next year.