Zcash Foundation Says SEC Ends Investigation With No Enforcement Action
Analysis
Price Impact
HighThe zcash foundation announced the sec has concluded its investigation without recommending enforcement action. this removes significant regulatory uncertainty and potential legal liabilities, which is a major positive catalyst for the zcash asset.
Trustworthiness
HighThe information comes directly from a statement by the zcash foundation, confirmed by news reporting, regarding a regulatory outcome.
Price Direction
BullishThe absence of sec enforcement action significantly reduces regulatory risk associated with zcash, which typically leads to increased investor confidence and buying pressure. the asset has already seen a significant price increase following the news.
Time Effect
ShortAn immediate positive price reaction has already been observed. while long-term sentiment may improve, the most significant 'shock' reaction often occurs in the short term as the news is digested.
Original Article:
Article Content:
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. Daily Debrief Newsletter Start every day with the top news stories right now, plus original features, a podcast, videos and more. Your Email Get it! Get it!