The U.S. Securities and Exchange Commission (SEC) has concluded its investigation into the Zcash Foundation in connection with the privacy-focused cryptocurrency project Zcash.
According to a statement from the Zcash Foundation, the organization received a formal subpoena from the SEC on August 31, 2023 as part of an investigation entitled “Certain Cryptoassets Offerings (SF-04569).”
After an intervention period, the SEC completed its investigation and informed the agency that it does not intend to recommend any sanctions or further regulatory action against Zcash Foundation in this matter. The statement indicated that the results reflect the Foundation's approach to transparency and compliance with applicable regulatory requirements.
The graph shows the price development ZEC Following development.
Following the conclusion of the investigation, the Zcash Foundation said it will continue to focus on developing privacy-preserving financial infrastructure in the public interest.
ZEC After development, the price increased by more than 4%. ZEC In 2016, when supply was extremely limited, it reached an all-time high of $5,941.
*This is not investment advice.
