Horizen Decides Against Privacy Features: What It Means for Investors

Horizen (ZEN), supported by the Digital Currency Group (DCG) subsidiary Grayscale Investments, has made a tough decision to safeguard the future of its native cryptocurrency, Zen (previously known as ZenCash). The team is retreating due to the looming danger on privacy-focused cryptocurrencies. With the US Department of Justice’s pressure and potential litigation risks, it’s expected that privacy tokens with non-anonymous management might soon get into trouble. Horizen (ZEN) Privacy-focused altcoins are in regulators’ crosshairs as they carry risks such as evading sanctions and money laundering. About a year and a half ago, the US DOJ announced significant rewards for those capable of exposing hidden transactions on the Monero network. Horizen, however, does not want a bounty on its head. In September 2022, Huobi Global delisted several privacy-focused altcoins, including Zen. Just last month, Binance planned to remove privacy-focused cryptocurrencies, including Zen, from its markets in certain European countries but later […] The post Horizen Decides Against Privacy Features: What It Means for Investors appeared first on COINTURK NEWS.