The Securities and Exchange Commission is no longer pursuing civil charges against Ripple executives Christian Larsen and Brad Garlinghouse, according to a court filing in the Southern District of New York on Thursday.
The decision is the latest chapter in the prolonged legal battle between the SEC and Ripple, a major crypto firm, over the issuance of its cryptocurrency XRP. The SEC has faced recent defeats in the case, including an unexpected ruling by Judge Analisa Torres in July that found that Ripple's sale of XRP on exchanges did not constitute an unregistered security, with the SEC's latest retreat signaling the saga is nearing its end.
