Zcash Foundation Cleared by SEC: What This Means for Crypto

The Zcash Foundation, a nonprofit based in Virginia, recently shared some good news. The U. S. Securities and Exchange Commission (SEC) has wrapped up its investigation into the organization. The SEC did not recommend any enforcement action against the Zcash Foundation. This investigation started in August 2023. It was during the time when Gary Gensler was leading the SEC. Gensler is known for his critical stance on cryptocurrencies.The Zcash Foundation stated that the outcome of the investigation highlights their commitment to transparency and following regulatory requirements. Interestingly, the public was not aware of this investigation until now. The organization remains focused on its mission. They aim to advance privacy-preserving financial infrastructure. They also continue to support Zcash as a protocol. The price of Zcash has been on an upward trend. It has nearly doubled over the past three months. This is despite the overall tepid conditions in the crypto market. Bitcoin, for example, reached an all-time high above $126, 000 in October. Yet, Zcash's price has shown significant growth. As of the latest data, Zcash is trading around $437. This is a 12% increase over the past day.