Zcash (ZEC) Pumps $40k into Research Organization to Boost Anonymous Payments
Zcash Foundation, the nonprofit organization in charge of privacy-centric altcoin, Zcash (ZEC) has donated 1044.41369 ZEC ($40,000 USD) to non-profit Canadian group, Open Privacy Research Society, and the funding will be used to implement new initiatives that would further boost the growth of the Zcash ecosystem, according to a blog post on December 3, 2019. Per the publication, Zcash Foundation donated 1044.41369 ZEC tokens that were valued at the time at $40,000 USD, to Open Privacy Research Society.
For instance, the Financial Action Task Force (FATF), a global financial watchdog that gives recommendations to its 37 member countries has placed Travel Rule obligations on exchanges that trade privacy coins such as Monero (XMR), Zcash (ZEC) and others. Also, Coinbase cryptocurrency exchange informed its U.K. customers in August 2019, that it will be delisting Zcash due to the concerns its new banking partner had over the virtual asset’s privacy feature.
