The price of Zcash (ZEC) has surged 10% after the US Securities and Exchange Commission (SEC) closed its investigation into the Zcash Foundation without taking any enforcement action.
The decision removes a regulatory overhang that had followed Zcash for two years, providing relief to the cryptocurrency's community. The SEC began investigating the foundation in August 2023, but ultimately concluded its review without recommending any enforcement action or required changes.
The foundation also disclosed its quarterly report, showing $36.7 million in liquid holdings at the end of March. ZEC accounted for approximately 58.6% of the balance, with the remaining funds held in Bitcoin, US dollar reserves, and a small ether position.