SEC Closes Zcash Investigation, ZEC Price Hits Six-Month High
The Zcash Foundation's first quarter earnings report revealed that the U.S. Security and Exchange Commission (SEC) has formally closed its investigation into the organization without recommending enforcement action, fines, or regulatory changes.
ZEC price surged to a six-month high on Wednesday after the news, increasing by over 12% to reach $646.80.
This is the highest level ZEC has reached since November, and it's part of a broader rally in the cryptocurrency market.