There is more to come. The EU is guaranteed to eventually ban all privacy preserving blockchains, and I think the US will eventually follow suit. That is why I think it is dangerous for Zcash to switch to a consensus mechanism which severely limits the amount of validator nodes. You can’t prioritize interop with the Cosmos ecosystem when the survival of Zcash will be jeopardized as a result.
We have to prepare Zcash to be run as an underground network, in the true cypherpunk sense. Imo the only chance Zcash has at not being banned in every major jurisdiction is if the Supreme Court in the US somehow intervenes.
From the article
CORRECTION (Feb. 8, 16:08 UTC): Removes mentions of Zcash from headline and first paragraph. It is unclear whether Zcash is affected because the regulator made exceptions for mitigating features, which theoretically could include Zcash’s “unshielding” option.
I believe efforts like Zcash Media is important in preventing something like this to happen in the future.
Our response, icymi.
Excellent Response, Thanks for publishing that piece.