#zec vs #SEC
🛡️ SEC Closes Investigation into Zcash Foundation: No Charges!
Today, we announced a major victory for privacy in the crypto world. The Zcash Foundation officially announced that the U.S. Securities and Exchange Commission (SEC) has concluded its investigation into the foundation without bringing any charges.
📝 Investigation Highlights:
• Context: The investigation began in August 2023 and involved a digital asset offering. The investigation was not publicly known until now.
• Outcome: The SEC does not recommend any enforcement action. This confirms the transparency of the nonprofit organization.
• Market Reaction: Zcash ($ZEC ) has gained 12% in the past 24 hours on the news, reaching around $437.
📈 What does this mean for Zcash?
Despite the general lull in the market since Bitcoin’s all-time high of $126,000, ZEC’s price has nearly doubled in the past three months. The closure of the case removes regulatory uncertainty that often hampers the development of privacy coins. The Zcash Foundation said it remains focused on building a financial infrastructure that protects privacy and developing a protocol for the public good.
