Pretty Good Policy for Zcash asked the Securities and Exchange Commission on October 20 to let issuers substantiate their fundraising claims without exposing unrelated financial activity. PGPZ says transaction-validity proofs do not establish how investor funds were spent and advocates targeted use of accounting records, cryptographic proofs and selective disclosure. The SEC proposal, issued on August 18, would create registration exemptions for offerings of up to $5 million over four years and up to $75 million over 12 months while retaining disclosure requirements and federal antifraud and antimanipulation provisions. As of October 26, the text remained a proposed rule, so PGPZ’s requested protections had not been adopted, even though the proposal already allowed redactions of certain exhibits, including wallet addresses.
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