The Zcash Foundation said on Wednesday that the U.S. Securities and Exchange Commission has ended a probe into the nonprofit organization without recommending enforcement action.
In a blog post, the Virginia-based organization said that it had been alerted to a review by the regulator in August 2023, which pertained to the offering of digital assets. At the time, the SEC was led by former chair and crypto critic Gary Gensler.
The Zcash Foundation said that the review’s outcome, where charges weren’t recommended against the organization, underscores its “commitment to transparency and compliance with applicable regulatory requirements.” Among the public, the probe was previously unknown.
The organization said that it remains focused on “advancing privacy-preserving financial infrastructure for the public good,” alongside efforts to steward Zcash as a protocol.
Zcash changed hands around $437, a 12% increase over the past day, according to CoinGecko. Despite tepid crypto market conditions following Bitcoin setting its most recent all-time high above $126,000 in October, Zcash’s price has nearly doubled over the past three months.
Editor’s note: This story is breaking and will be updated with additional details.
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