SEC Clears Zcash Foundation as ZEC Rallies on Regulatory Relief

The SEC has concluded its review of the Zcash Foundation and informed the nonprofit that it does not intend to recommend any enforcement action or other regulatory changes tied to that matter. 

The decision removes a long-running legal overhang that had followed Zcash for more than two years.

ZEC surged on the news. The token traded near $440, up about 13% on the day, with heavy volume as traders priced in lower regulatory risk.

However, the move also came after days of intense governance turmoil inside the Zcash ecosystem, which had earlier pushed the token sharply lower.

We are pleased to announce that the SEC has concluded its review and informed us that it does not intend to recommend any enforcement action or other changes against Zcash Foundation regarding this matter. https://t.co/zjxfh3mmst