In a significant turn of events, the U.S. Securities and Exchange Commission (SEC) asked the judge presiding over the case to dismiss its lawsuit against Ripple’s XRP/USD key executives Christian Larsen and Bradley Garlinghouse.

The decision was conveyed via an official letter to Analisa Torres, a U.S. District Judge for the Southern District of New York, on Thursday.

The lawsuit, which had been looming over Ripple for some time, centered around allegations that Larsen and Garlinghouse aided and abetted Ripple’s violations of Section 5 of the Securities Act of 1933 with Ripple’s “Institutional Sales” of XRP.

Following a stipulation between the involved parties, the claim is dismissed…

Read more on Benzinga