SEC Closed its 2023 Probe into Privacy Coin

The foundation behind Zcash (ZEC) said that the US Securities and Exchange Commission (SEC) will not pursue an enforcement action into the privacy coin after the end of an investigation launched in 2023.

In a Wednesday notice, the Zcash Foundation said the SEC “concluded its review” over a “matter of certain crypto asset offerings” and would not recommend enforcement actions or changes. According to the foundation, the regulatory probe started in August 2023 after it received a subpoena from the SEC.

“This outcome reflects our commitment to transparency and compliance with applicable regulatory requirements,” said the foundation. “Zcash Foundation remains focused on advancing privacy-preserving financial infrastructure for the public good.”

Over the past year under US President Donald Trump, the SEC has dropped several investigations and lawsuits into several high-profile crypto companies, signaling that the regulator would be softening on regulation and enforcement under the current administration. 

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Cointelegraph reached out to the foundation for additional details on the subpoena and investigation, but had not received a response at the time of publication.

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This is a developing story, and further information will be added as it becomes available.