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The SEC has concluded its review of Zcash and informed the nonprofit that it does not intend to recommend any enforcement action or other regulatory changes related to this matter.
The decision removes a long-standing legal charge that has dogged Zcash for more than two years.
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The end of a two-year investigation
They are rabbitsRGED In the news. The token traded near $440, up about 13% on the day, with heavy volume as traders priced in less regulatory risk.
However, the move also came after days of intense government turmoil in the Zcash system, which had previously pushed the token into a sharp decline.
The SEC first targeted Zcash in August 2023, when it issued a subpoena as part of a broad investigation titled “Search for Cryptocurrency Asset Offerings.”
The agency sought information on whether the funding, the government or the distribution of the tokens In relation to zakash May be subject to US securities laws.
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Like many cryptocurrency investigations during that period, the investigation focused on whether part of the project resembled an unregistered securities offering. Zcash’s privacy-focused design and its US foundation have put the game under increased scrutiny.
Now, more than two years later, the SEC has closed the case without recommending charges, fines or compliance changes.
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Government unrest hit Zikash
While the regulatory side has been silent, Zcash has faced a new crisis This month.
Last week, he resigned The entire core development team at Electric Coin (ECC) After a public dispute with Bootstrap Foundation Who oversees the government of Zcash.
ECC leadership has accused the council of imposing staffing and governance changes that make continued development impossible. They described the situation as: Constructive dismissals They say they will continue to work on privacy technology outside of the current structure.
This news led to Sharp sales deal. ZEC fell more than 20% in a few days, as investors feared that the leadership of the protocol would collapse.
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since then, Zcash stakeholders worked to clarify Blockchain itself is still decentralized and operational.
In addition, the team is restructured as a startup to expand the network. Independent developers, node operators and miners continue to operate the network.
At the same time, the SEC’s decision removes the biggest remaining regulatory threat facing the project.
Together, these developments seem to have changed market sentiment.
