Zcash Foundation says SEC has closed the book on its years-long probe into the organization
The Zcash Foundation announced the SEC has concluded its multi-year investigation without recommending enforcement action.Summary
The Zcash Foundation confirmed that the U.S. Securities and Exchange Commission (SEC) has closed its years-long probe into the organization, stating they received notification that the regulator does not intend to recommend any enforcement action regarding the matter.
The foundation had received a subpoena in August 2023 related to an inquiry concerning "Certain Crypto Asset Offerings." This conclusion aligns with a broader shift in the SEC's approach to crypto enforcement under the Trump administration, which has seen the agency drop numerous cases initiated during the more aggressive enforcement strategy of the Biden administration.
Separately, the announcement follows recent internal turmoil within the Zcash ecosystem, including the resignation of the entire staff of Electric Coin Company, the Zcash developer, due to a structural dispute. The Zcash Foundation reassured the community that its commitments to the protocol remain unchanged, emphasizing the network's independence from any single entity.
(Source：The Block)