Is the SEC's decision to end its investigation into Zcash without taking any enforcement action the signal that investors have been waiting for?
In a positive development for Zcash price forecasts, the SEC has ruled out enforcement action against the Zcash Foundation, which may have resolved the issue of compliance.
A formal investigation of the Zcash Foundation's compliance with economic sanctions and anti-money laundering (AML) regulations regarding their cryptocurrency sale has been underway for two and a half years, and now marks the completion of that probe.
For the most part, the privacy coin story has been operating in a legislative grey area, which has prevented significant adoption and investment.
Important feedback, as privacy coins are becoming more important in the current market cycle driven by institutions. Rails for institutional use cases should provide privacy while still meeting regulatory requirements and allowing for selective disclosure.
A 9% daily increase was set off by the original statement. Zcash might eventually explore more widespread use cases and release dormant wealth if regulatory uncertainty were to be resolved.
Internal strife is still the key item of discussion for the foreseeable future. Zcash ecosystem stability is called into question by the departure of the main Electric Coin Company (ECC) development team.
Zcash may have been able to alleviate short-term pressure and redirect attention to a two-month bull flag continuation pattern that has been clandestinely taking shape thanks to regulatory clarification.
At $760, the critical level for a verified breakthrough would be. The primary testing ground for a drive toward new price discovery is this temporary resistance.
If the bull flag pattern materializes, the price might reach $5,000, representing a 1,150% increase.
That scenario, meanwhile, is probably dependent on Zcash's widespread acceptance and the establishment of a concrete use case for the cryptocurrency.
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