Zcash Foundation Cleared by SEC: What This Means for Crypto

SEC Investigation Concludes Without Enforcement Action

The Zcash Foundation, a nonprofit based in Virginia, has announced that the U.S. Securities and Exchange Commission (SEC) has concluded its investigation into the organization.

• No Enforcement Action Recommended
• Investigation Began in August 2023 under former SEC Chair Gary Gensler, known for his critical stance on cryptocurrencies.

The Foundation emphasized that the outcome reflects their commitment to transparency and regulatory compliance. Notably, the investigation was not publicly disclosed until now.

Mission and Focus

The Zcash Foundation remains dedicated to:

• Advancing privacy-preserving financial infrastructure.
• Supporting Zcash as a protocol.

Zcash Price Surges Amid Crypto Market Trends

Despite a sluggish overall crypto market, Zcash (ZEC) has seen a remarkable price increase:

• Nearly doubled over the past three months.
• Bitcoin (BTC) hit an all-time high above $126,000 in October.
• Zcash is currently trading around $437, up 12% in the past day.