Zcash Foundation: SEC Ends Investigation, Will Not Take Enforcement Action

Odaily News The Zcash Foundation announced that the U.S. Securities and Exchange Commission (SEC) has formally concluded its multi-year investigation into the foundation and explicitly stated that it will not recommend any enforcement action. The foundation stated that it received a subpoena in August 2023 related to "certain crypto asset offerings" and has now received a case closure notice from the regulator.

An SEC spokesperson responded, stating that the agency "does not comment on the existence or nonexistence of a possible investigation." This case closure occurs against the backdrop of a shift in the SEC's enforcement approach towards the crypto industry. Over the past year, the SEC has dropped or terminated multiple cases, including one against Coinbase, and investigations into some DeFi projects, which is seen as a contrast to its previously more aggressive regulatory stance.