Zcash Foundation says SEC has closed the book on its years-long probe into the organization

The Zcash Foundation, a non-profit organization supporting the privacy-focused digital currency Zcash (ZEC), announced today that the U.S. Securities and Exchange Commission (SEC) has formally concluded its years-long investigation into the organization. The Foundation revealed that the SEC Staff informed them that they do not intend to recommend any enforcement action against the Foundation.

The probe, which began several years ago, focused on various aspects of the Foundation’s operations, governance, and the regulatory status of the Zcash asset itself. The organization cooperated fully throughout the extensive inquiry, providing numerous documents and statements to aid the Commission’s understanding.

This decision marks a significant regulatory milestone for the Zcash ecosystem. Amid heightened regulatory scrutiny across the cryptocurrency industry regarding the classification of digital assets, the closure of the investigation without recommendation for enforcement is widely viewed as a major victory and a validation of the Foundation’s operating practices and compliance efforts.

In a statement, a spokesperson for the Zcash Foundation expressed relief and confidence, emphasizing their continued commitment to transparency, decentralized governance, and ensuring that Zcash remains a robust tool for privacy in the digital age while adhering to all necessary regulatory frameworks.

Source: Zcash Foundation says SEC has closed the book on its years-long probe into the organization