ZEC and regulatory clarity—or lack thereof.

The SEC wrapped up its investigation involving the Zcash Foundation. Case closed, officially speaking. But here's the thing: the public statements leave everything frustratingly vague. Nobody can pin down exactly what allegations were being investigated or what specific concerns prompted the whole thing in the first place.

Meanwhile, the industry keeps circling back to compliance frameworks and AML protocols like they're the universal answer. Yet when actual regulatory outcomes come down, the messaging remains murky. It's the kind of ambiguity that keeps projects guessing about where the real boundaries actually lie.