Zcash Foundation Announcement
In a recent announcement, the Zcash Foundation revealed that the U.S. Securities and Exchange Commission (SEC) has concluded its investigation into the nonprofit without recommending any enforcement measures. This update was shared via a blog post on Wednesday, highlighting the foundation’s commitment to maintaining transparency and adhering to regulatory standards.
Background of the Investigation
The SEC’s examination was initially brought to light in August 2023, during the tenure of former chairman Gary Gensler, who is known for his skeptical stance on cryptocurrencies. Notably, the investigation had not been made public until now.
Foundation’s Commitment
The Zcash Foundation emphasized that it continues to prioritize the advancement of privacy-focused financial infrastructure, intended to benefit the wider community, while actively managing the Zcash protocol.
Zcash Market Performance
As for Zcash’s market performance, it has seen a significant uptick, trading at approximately $437—marking a 12% rise within just one day, as reported by CoinGecko. This surge comes despite the overall cryptocurrency market experiencing some sluggishness, following Bitcoin’s recent peak of over $126,000 recorded in October. Interestingly, Zcash’s value has nearly doubled over the past three months.
Stay tuned for updates as this story develops.
