Overview
- The Zcash Foundation said the SEC informed it there is no intention to recommend enforcement following a review of the nonprofit.
- The inquiry began with an Aug. 31, 2023 subpoena titled “In the Matter of Certain Crypto Asset Offerings (SF-04569).”
- The foundation described the outcome as reinforcing its commitment to transparency and regulatory compliance.
- ZEC rose roughly 12% to about $437 on the day of the announcement, according to market data from CoinGecko and CoinMarketCap.
- The organization said it has resumed normal operations and communications after a period that also saw several core team resignations earlier this year.