Zcash Foundation: The SEC has closed its investigation and will not take enforcement action.

The Zcash Foundation stated that the U.S. Securities and Exchange Commission (SEC) has formally concluded its multi-year investigation into it and explicitly stated that it will not recommend any enforcement action. The foundation said it received a subpoena related to "certain crypto asset offerings" in August 2023 and has now received notification of the case's closure from the regulator. An SEC spokesperson responded that the agency "does not comment on the existence of investigations." This closure comes against the backdrop of a shift in the SEC's enforcement approach towards the crypto industry. Over the past year, the SEC has dropped or terminated several cases, including one involving Coinbase, and investigations into some DeFi projects, a move seen as a contrast to its previously more aggressive regulatory stance.