Right this moment it was introduced the US Treasury imposed sanctions on digital forex mixer Twister Money, including it to the OFAC (Workplace of Overseas Belongings Management) SDN listing, the listing of Specifically Designated Nationals with whom People and American companies will not be allowed to transact.
We agree with our companions at Coin Heart and Blockchain Affiliation that there are issues about how at the moment’s announcement impacts the civil liberties of United States residents. We’re following developments intently and look ahead to persevering with our ongoing and productive conversations with regulators and policymakers on behalf of Zcash.
Our mission at Electrical Coin Co. (ECC) is to empower financial freedom, and to that finish, we contribute to and help a good, open forex to guard the liberty, dignity, consent, and safety of individuals everywhere in the world.
Wise coverage steering and training are on the core of our work with socio-political stakeholders, and ECC advocates that privateness is crucial for private, enterprise, and nationwide safety. Our companion community in these endeavors contains assume tanks, tutorial analysis facilities, and nonprofits that present thought management and advocacy for points that have an effect on Zcash customers.
Zcash is compliant and totally suitable with international AML/CFT requirements, together with all last FATF suggestions, the European Union’s Fifth Anti-Cash Laundering Directive, and the US’ Anti-Cash Laundering laws. It’s authorized by the New York State Division of Monetary Providers (NYDFS), a key requirement for itemizing on main exchanges, like Gemini and Coinbase.
In 2020, ECC commissioned the RAND Company to conduct analysis into Zcash utilization for illicit functions. The analysis revealed no proof of any substantive use of Zcash for cash laundering, terrorism financing or commerce in illicit items and providers. The report additionally discovered, “the governance of Zcash and its branding as compliant with the related AML/CFT laws could make it much less inclined to exploitation for illicit or legal functions.”
