The U.S. Securities and Exchange Commission (SEC) is dropping claims against Ripple executives Brad Garlinghouse and Chris Larsen. The SEC had accused the two executives of aiding and abetting Ripple in violating federal securities laws in its XRP transactions. The SEC's decision to drop the claims comes after a series of setbacks in the case. In July 2023, a federal judge ruled that Ripple had not broken securities laws when it made XRP available to retail investors. Earlier this month, the judge denied the SEC's appeal of her ruling.