SEC Closes Investigation into Privacy Coin Ecosystem

Zcash Foundation Announces Conclusion of Inquiry

The Zcash Foundation has announced that the U.S. Securities and Exchange Commission (SEC) will not pursue any enforcement actions following the conclusion of an investigation into Zcash (ZEC), which was initiated in 2023. In a statement released on Wednesday, the foundation specified that the SEC "has completed its review" regarding a "question related to certain crypto asset offerings" and will not recommend any actions or regulatory changes.

According to the foundation, the investigation was launched in August 2023 after receiving a subpoena from the SEC. "This outcome reflects our commitment to transparency and compliance with applicable legal requirements," the foundation stated. "The Zcash Foundation remains focused on advancing financial infrastructure that protects privacy for the benefit of the public." Cointelegraph reached out to the foundation for additional details regarding the subpoena and investigation, but has not received a response from them at this time.