India’s Financial Intelligence Unit (FIU‑IND) has launched a fresh anti‑money‑laundering crackdown aimed at privacy‑focused cryptocurrencies. The move targets Monero (XMR), Zcash (ZEC), and Dash (DASH), which together represent the largest and most widely used privacy coins globally.

India Tightens Crypto Oversight

Details of the action were shared on Friday by market analyst MartyParty on social media platform X (previously Twitter), who notes that FIU‑IND has issued a directive to crypto exchanges registered in India, instructing them to immediately suspend deposits, withdrawals, and trading activity for Monero, Zcash, and Dash. 

At the heart of the regulator’s concerns is the technology underpinning these assets. Privacy coins rely on advanced cryptographic techniques designed to obscure transaction details, wallet balances, and user identities. 

Monero uses ring signatures to hide the sender and receiver, Zcash allows shielded transactions that conceal transaction data, and Dash offers optional privacy features. 

While these tools are valued by users seeking confidentiality, regulators argue they make it difficult for exchanges to meet know‑your‑customer (KYC) and transaction‑monitoring obligations. The regulator views these features as posing elevated risks related to money laundering, terrorist financing, and sanctions evasion. 

The latest directive applies to all cryptocurrency exchanges registed in the country, which currently includes crypto platforms operating in compliance with Indian regulations. They have been instructed to stop supporting the assets, including delisting, blocking all deposits and withdrawals, and disabling any associated trading pairs.

Monero, Zcash, And Dash Show Mixed Market Reaction

The latest action builds on a broader regulatory push by Indian authorities. In October 2025, FIU‑IND ordered internet service providers to block access to 25 offshore crypto exchanges that failed to register. 

By contrast, only a handful of exchanges currently remain fully registered and compliant in the country. Binance, Mudrex, Coinbase, CoinSwitch (CoinSwitch Kuber), and ZebPay continue to operate legally in India.

Despite the regulatory pressure, market prices for the targeted privacy coins showed short‑term resilience. Over the past 24 hours, all three assets posted gains after recovering from sharp losses earlier in the week. 

Monero was trading at $524 at the time of writing, up 3.5% on the day. Zcash also rebounded modestly, rising 2.2% to trade at $372. Dash recorded the strongest daily performance, jumping 11.6% during the same period.

However, the broader trend remains negative. According to CoinGecko data, Monero, Zcash, and Dash are still down sharply on a weekly basis, with losses of approximately 21%, 8%, and 20% respectively over the past seven days. 

Featured image from DALL-E, chart from TradingView.com

On Wednesday, the Zcash Foundation announced a significant development regarding its ongoing operations: the US Securities and Exchange Commission (SEC) has concluded its investigation into the public charity. 

This news has sparked a notable recovery in the price of the Zcash native token (ZEC), signalling renewed investor confidence, with trading volume surging by 39% over the past 24 hours.

Zcash Foundation Cleared By SEC

The Zcash foundation received a subpoena from the regulatory agency back in August 31, 2023, as part of a broader inquiry titled “In the Matter of Certain Crypto Asset Offerings (SF-04569).” 

After a thorough review, the Zcash Foundation was informed that the SEC does not plan to recommend any enforcement actions or changes pertaining to the organization. 

This comes amid significant regulatory changes towards digital assets under the Trump administration, including the appointment of the pro-crypto Paul Atkins as chair of the SEC. Similar enforcement actions against firms such as Uniswap (UNI), Coinbase (COIN) and Robinhood (HOOD) were dropped last year.  

ZEC Price Surges Near $440

In their statement, the foundation expressed satisfaction with the outcome, emphasizing their commitment to transparency and adherence to regulatory standards. They reiterated their focus on advancing financial infrastructure that preserves user privacy for the greater good.

Following this announcement, ZEC experienced a robust increase of 12%, pushing its price to approximately $437.75 at the time of writing. This surge comes after the cryptocurrency had recently dipped to a near one-month low of $363 last Saturday, illustrating a significant turnaround. 

However, even with this recent boost, the Zcash token still has a long way to climb. The cryptocurrency remains 86% below its all-time high of over $3,191, according to CoinGecko data.

Featured image from DALL-E, chart from TradingView.com 

• Almost three million people signed a parliamentary petition opposing mandatory digital ID cards.
• Digital right-to-work checks will remain mandatory under the updated policy approach.
• The UK digital ID scheme, expected around 2029, will be offered as optional alongside electronic alternatives.

The UK government, led by Prime Minister Keir Starmer, has dropped plans to make a centralised digital ID mandatory for workers, stepping back from a proposal that would have changed how employees prove their right to work.

Under the original plan, workers would have been required to use a government-issued digital credential, rather than relying on traditional documents such as passports.

The reversal follows months of criticism from politicians and civil liberties campaigners, as well as a large-scale public response that questioned whether employment access should depend on one centralised system.

Critics warn of surveillance and data security risks

The mandatory digital ID proposal drew backlash from opponents across the political spectrum, including UK Member of Parliament Rupert Lowe and Reform UK leader Nigel Farage.

Civil liberties groups and campaigners also raised concerns about how a centralised identifier could be used over time.

Opponents warned it could lead to an “Orwellian nightmare” by giving the state a stronger ability to monitor citizens.

Another major fear was that centralising sensitive personal data could create a single “honeypot” vulnerable to hacking and misuse.

Critics also pointed to the risk of mission creep, where a scheme launched for employment checks could gradually expand into other areas, including housing, banking, and voting.

Petition pressure forces a policy climbdown

Public resistance to mandatory digital ID became visible through formal political channels.

Almost three million people signed a parliamentary petition opposing digital ID cards, making the issue difficult for ministers to ignore.

Lowe celebrated the policy shift in a video posted on X, saying he was off for “a very large drink to celebrate the demise of mandatory Digital ID”.

Farage also backed the rollback, calling it “a victory for individual liberty against a ghastly, authoritarian government”.

Digital right-to-work checks stay mandatory from government

Despite dropping plans for a mandatory digital ID credential, officials say digital right-to-work checks will remain mandatory.

That means the government is still committed to keeping employment verification in a digital process, even if it is no longer built around a single government ID system.

When the UK’s digital ID scheme launches around 2029, it is now expected to be optional rather than compulsory.

Instead of becoming the only approved route for proving work eligibility, it will be offered alongside alternative electronic documentation.

Digital euro, EU identity, and crypto privacy debates return

The UK’s partial rollback is also feeding into wider debates about digital control systems, including central bank digital currencies and the European Central Bank’s digital euro project.

In those discussions, civil society groups and some lawmakers have argued for strict privacy guarantees rather than systems that could allow broad traceability.

At the same time, the European Union is moving ahead with its own digital identity framework and digital euro work, while exploring privacy-preserving designs.

One approach includes using zero-knowledge proofs, allowing citizens to prove attributes such as age or residency without revealing their full personal information.

These designs connect to decentralised identity tools and privacy-preserving blockchain technologies, including zero-knowledge credential systems and privacy-enhancing smart contract structures.

The aim is to support compliance while minimising how much personal data is exposed or stored in one place.

Privacy-focused crypto tools have also remained in focus, including privacy coins such as Zcash (ZEC) and Monero (XMR), alongside decentralised identity protocols.

Interest in these tools has continued as regulators step up scrutiny of DeFi and explore identity checks for self-hosted wallets.

The US Treasury’s proposed DeFi ID framework, alongside renewed attention on privacy tokens, shows how policymakers are testing stronger Anti-Money Laundering and Know Your Customer controls on-chain, even as builders push alternative designs.

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• Zcash (ZEC) has staged a notable intraday recovery in the volatile world of privacy-focused cryptocurrencies.
• The token pumped following a sharp sell-off triggered by governance uncertainties at the Electric Coin Company (ECC).
• ZEC price has rebounded more than 10% in the last 24 hours, up from lows of $396.

The price of Zcash (ZEC), the privacy-focused cryptocurrency that staged a notable surge in 2025, has rebounded from its latest dip under $400 with an impressive 10% uptick in the past 24 hours.

Zcash (ZEC)  traded around $436 at the time of writing, posting a double-digit recovery after the token dipped to around $396 amid negative ecosystem developments.

Why did Zcash price dump?

Notably, the recent price action follows the sharp sell-off triggered by internal governance challenges within the Zcash ecosystem.

On January 7, 2026, the development team from the Electric Coin Company (ECC), the primary entity historically responsible for Zcash’s core development, announced mass resignations. The split impacted the ZEC price.

The departure stemmed from a misalignment with the Bootstrap nonprofit board.

Developers cited concerns over shifts away from the project’s original privacy mission as a reason.

But despite the lingering jitters of what turmoil for Zcash developer Electric Coin Company could mean for the privacy coin, the swift reversal suggests investor interest remains high.

Zcash price recovers 10%, can bulls go higher?

News around Zcash prompted panic selling, driving ZEC to an intraday low near $389 on Thursday.

Losses helped wipe out a significant portion of the privacy coin’s market value, with bulls under threat as bears threatened the psychologically important $400 level.

According to data from Coinglass, uncertainty saw more traders lean bearish.

However, buyers have quickly stepped in, absorbing the selling pressure.

The movement has seen 24-hour liquidations increase to over $7.95 million. Among these, over $6.20 are in short positions, while over $1.75 are long positions.

This double-digit recovery highlights the bulls’ resilience as fresh demand emerges for the privacy coin.

Significantly, the Zcash Foundation has emphasized that the protocol remains decentralized, open-source, and unaffected by the organizational changes.

In light of recent developments @ElectricCoinCo, Zcash Foundation would like to reaffirm several key facts about the Zcash network and our enduring role in the ecosystem.

— Zcash Foundation 🛡️ (@ZcashFoundation) January 8, 2026

The developer split, while disruptive in the short term, has not crashed Zcash bulls.

“We recognize that moments of transition within the ecosystem can create uncertainty. However, at moments like this it is important to understand this distinction: distinguish between organizational shifts and the health of the network. The Zcash network is fundamentally independent of any single organization, board or corporate entity,” the foundation noted via X.

Given the outlook, could the ZEC price edge higher?

Short-term, the key for bulls would be to stay above $400. A close above $450 and a retest of $500 will be a huge step. If not, a reset to the support around $313 is possible, and near-term reload zones will be at $220.

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• The entire Electric Coin Company team behind Zcash development exited after governance changes.
• A new company will be formed to continue the same privacy-focused mission.
• The Zcash protocol remains unaffected despite leadership and governance turmoil.

Electric Coin Company, the long-standing development organisation behind Zcash, is preparing to start a new company following a sudden and highly public split tied to governance disputes.

According to public statements and reporting, the entire Electric Coin Company team has departed from its previous organisational arrangement with Bootstrap, the nonprofit created to support Zcash.

Notably, the exit was not framed as a routine resignation or gradual transition.

Instead, the company’s leadership described the situation as a breakdown in alignment that made continued work impossible.

The move marks a major turning point for one of the cryptocurrency industry’s most prominent privacy-focused projects.

Zcash has long positioned itself as “private money,” and the organisational fracture highlights growing tensions between mission-driven development teams and nonprofit governance structures.

Governance conflict at the centre of the split

At the core of the dispute is Bootstrap, a 501(c)(3) nonprofit created to support Zcash by governing the Electric Coin Company.

Josh Swihart, CEO of Electric Coin Company, publicly stated that a majority of Bootstrap board members had moved into clear misalignment with the mission of Zcash.

He specifically named Zaki Manian, Christina Garman, Alan Fairless, and Michelle Lai as central figures in that majority.

Swihart said that over recent weeks, changes imposed by the board altered the terms of employment for the Electric Coin Company team.

Those changes, according to his account, made it impossible for the team to perform their duties effectively and with integrity.

As a result, the entire team left after what Swihart characterised as constructive discharge.

Constructive discharge refers to situations in which working conditions are changed so significantly that employees are effectively forced to resign.

The framing suggests the split was driven by governance actions rather than disagreements over technology or code.

The dispute also exposed confusion around roles and titles, with Swihart acknowledging that public listings showing him as executive director of Bootstrap were outdated.

A new company, but the same mission

Despite the split, Swihart emphasised that the departing team is not abandoning its core vision.

He confirmed that the former Electric Coin Company team plans to found a new company.

The goal of that new entity, he said, remains building “unstoppable private money.”

This language mirrors Zcash’s long-standing emphasis on privacy, censorship resistance, and user sovereignty.

Importantly, Swihart and other figures stressed that the Zcash protocol itself is unaffected by the organisational changes.

Zcash’s codebase is open-source, and no single company owns or controls the network.

That distinction is critical for users and developers concerned about continuity and security.

Former Electric Coin Company CEO and Zcash founder Zooko Wilcox defended the Bootstrap board and stated that Zcash remains permissionless, secure, and safe to use.

His response highlighted the reality that leadership perspectives differ sharply on the causes and implications of the split.

Market reaction, Zcash price drops

ZEC, the native token of the Zcash network, saw a notable price drop in the aftermath of the announcement.

At press time, Zcash was trading at around $443.38, down 10.3% in a day, eroding the majority of its December gains.

The price decline reflects uncertainty around governance, leadership stability, and future development direction.

At the same time, supporters of the departing team argued that separating from what they view as hostile governance may ultimately strengthen development.

They see the creation of a new company as a way to protect mission-driven work from nonprofit board dynamics.

Critics, however, worry about fragmentation and the loss of institutional continuity.

The episode underscores broader challenges facing decentralised projects that rely on hybrid structures combining nonprofits, companies, and open-source communities.

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• Whale accumulation and shielded ZEC reduce tradable supply, boosting price.
• A technical breakout above $500 signals strong bullish momentum and potential gains.
• Arthur Hayes forecasts $1,000 as rising demand and institutional interest grow.

Zcash has seen remarkable momentum in recent months, drawing attention for its unique privacy features and growing institutional interest.

The Zcash price has climbed to $537.45, reflecting a 3.01% gain over the past 24 hours and an impressive 28.5% rise over the past week, fueled by a combination of supply dynamics and renewed investor enthusiasm.

This surge comes amid a broader trend in the crypto market where privacy-focused coins are increasingly viewed as hedges against tightening KYC and AML regulations.

Whales and supply squeeze drive momentum

A major driver behind Zcash’s recent price action is whale accumulation.

The top 100 addresses now control approximately 66% of the total ZEC supply, with large sums being withdrawn from exchanges, including over $31 million worth of ZEC moved off Binance alone.

These off-exchange holdings, combined with the roughly 30% of ZEC locked in shielded addresses, significantly reduce the tradable supply and create a classic supply-demand imbalance.

Analysts note that this thinning liquidity amplifies price swings, meaning even modest buying pressure can have a notable impact on market prices.

The supply squeeze is further intensified by institutional participation.

Reports from Grayscale indicate that Zcash was among the top-performing assets in the fourth quarter of 2025, appreciating nearly 900% since October, as investors increasingly perceive ZEC as a privacy-focused hedge.

The growing adoption of shielded transactions, which now account for roughly 27% of total supply, underscores the token’s role in maintaining confidentiality on the blockchain.

Investors appear to be strategically storing ZEC in private wallets, thereby reducing immediate market availability and setting the stage for continued upward pressure.

Zcash price prediction for January 2026

Alongside supply dynamics, technical indicators suggest strong bullish momentum.

ZEC recently cleared the $500 resistance level, with MACD and RSI values pointing to continued upward potential.

Futures markets reflect active positioning, with open interest rising and funding rates indicating moderate leverage risk.

However, analysts caution that a short-term pullback toward $476 could occur, given the presence of $78 million in potential long liquidations.

A sustained breakthrough above the previous swing high at $554.18 could target the $622 level, highlighting the importance of monitoring both technical and fundamental factors for market participants.

Derivatives activity and active trading metrics also reveal that market sentiment is leaning bullish, although the high leverage present in futures markets introduces volatility risk.

Arthur Hayes predicts Zcash at $1,000

While exchange outflows and strong on-chain adoption of shielded transactions suggest that the upward trajectory is being reinforced by structural factors, prominent figures in the crypto industry are voicing optimistic forecasts for ZEC.

Former BitMEX CEO Arthur Hayes has predicted that Zcash could reach $1,000, citing growing demand for privacy assets, institutional accumulation, and supply constraints as key factors driving potential price appreciation.

The tears of the bears shall be my sustenance. $ZEC first stop $1k pic.twitter.com/FPCZbNxMTj

— Arthur Hayes (@CryptoHayes) December 29, 2025

While regulatory uncertainty remains a concern, particularly with global privacy coin oversight evolving, the combination of limited tradable supply, whale accumulation, and sustained investor interest creates a compelling bullish scenario.

However, traders should closely watch to see if ZEC can maintain the $500 support level, which would reinforce confidence in the broader uptrend.

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• Zcash has dropped about 6% in the past 24 hours as bulls fail to rebound above $420.
• The privacy coin led the cryptocurrency market as Bitcoin floundered.
• ZEC may benefit amid broader adoption in 2026.

Zcash price has experienced significant turbulence in the past weeks, rising to highs of $744 in November before plummeting to $313 in early December 2025.

While bulls managed to rebound to above $450, the latest downturn has it hovering around $417 as bears show conviction at the $420 mark.

Broader market pressures on privacy-focused coins, which also saw the Midnight token nosedive 25%, have ZEC at risk of further losses.

Zcash drops to $410 amid fresh losses

Zcash has recently attracted a lot of attention as the privacy-centric cryptocurrency makes a case for itself with shielded transactions.

That outlook, amid catalysts such as digital asset treasuries and exchange-traded fund filings, helped ZEC price jump to above $744 in November. 

However, the token has seen its value dip sharply to $410 in the latest trading session.

This marks a notable decline in the past month, and today’s slump moves bulls further away from the $450 mark. ZEC has dropped by about 5% in the past 24 hours.

The price breach below key support levels, such as $420, has intensified bearish pressures.

Zcash price outlook: Grayscale in 2026

Recently, Zcash briefly neared the psychological $500 level amid optimism around privacy enhancements and institutional interest. But as seen on the chart below, sellers are looking to regain control as short-term momentum fades.

While short-term bears dominate, long-term adoption in financial privacy could propel ZEC higher, contingent on market stability and innovation.

According to Grayscale, privacy is one of the key market themes to watch in 2026 and Zcash stands to play a key role amid broader crypto integration into the financial system.

Grayscale wrote in its 2026 Digital Asset Outlook: Dawn of the Institutional Era report.

“If public blockchains are going to be more deeply integrated into the financial system, they will need much more robust privacy infrastructure — and this is becoming obvious now that regulation is facilitating that integration. Potential beneficiaries from investor focus on privacy may include Zcash (ZEC), a decentralized digital currency akin to Bitcoin with privacy-preserving features.”

Bullish projections for ZEC in the next 12 months have $1,000 as the base case scenario. Bulls reclaiming this level could allow for a bullish run to $2,000.

However, the all-time highs seen in 2016 may be a major ask, particularly if broader market conditions do not offer the tailwinds required.

ZEC has seen over $588 million traded in the past 24 hours.

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