The U.S. Securities and Exchange Commission has officially closed its lengthy investigation into the Zcash Foundation and has decided not to take any enforcement action against the privacy-focused nonprofit, according to executives.
The foundation made the announcement about the investigation’s conclusion in a notice published on its website on Wednesday. You can read the full notice here.
The SEC’s inquiry began in August 2023 when the foundation received a subpoena related to an internal matter titled “In the Matter of Certain Crypto Asset Offerings (SF-04569).”
After more than two years, the regulator informed the foundation that the review is now closed and that there are no plans to press charges or request any changes.
In a statement, the Zcash Foundation emphasized that recent organizational changes do not impact the underlying operation of the Zcash network and highlighted that the protocol functions independently of any single entity. You can find more details in this article.
The foundation also addressed the ecosystem’s potential uncertainties during transitional periods in a blog post,
“We understand that transitions within the ecosystem can create uncertainty. However, it’s crucial to differentiate between organizational changes and the network’s health.”
“The Zcash network operates independently of any single organization, board, or corporate entity.”
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