The investigation by the U.S. Securities and Exchange Commission (SEC) into the Zcash Foundation, associated with the privacy-centric cryptocurrency Zcash, has reached its conclusion.
As reported by the Zcash Foundation, they received an official subpoena from the SEC on August 31, 2023. This was part of a broader inquiry known as “Certain Crypto Asset Offerings (SF-04569).”
After reviewing the matter over time, the SEC communicated that it had finalized its assessment and would not pursue any sanctions or further regulatory measures against the Zcash Foundation in this instance. The foundation’s statement emphasized that this resolution underscores their commitment to transparency and adherence to relevant regulatory standards.
The chart illustrates how ZEC‘s price fluctuated following these developments.
With this investigation now concluded, the Zcash Foundation affirmed its dedication to advancing privacy-enhancing financial systems for societal benefit.
The price of ZEC saw an increase of over 4% in response to these updates. Notably, ZEC previously peaked at $5,941 back in 2016 when its supply was extremely limited.
*This content does not constitute investment advice.