SEC Clears Zcash Foundation, Driving 12% Surge in ZEC Price

The Zcash Foundation announced that the US SEC has concluded its investigation into the foundation without recommending any enforcement actions. This development marks a positive outcome for Zcash and has led to increased investor confidence.

Zcash received a subpoena from the SEC on August 31, 2023, as part of an inquiry into crypto asset offerings.
The foundation emphasized transparency and regulatory adherence in their response to the SEC's decision.
This news aligns with broader regulatory changes under the Trump administration, which saw similar cases against Uniswap, Coinbase, and Robinhood dropped last year.

ZEC Price Surge

Following the announcement, ZEC's price surged by 12%, reaching approximately $437.75.
This increase follows a recent dip to $363, marking a significant recovery.
Despite this, ZEC remains 86% below its all-time high of over $3,191.

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