Zcash (ZEC) has surged over 100% in the past week, hitting a peak of $135.54 on October 3, driven by increased demand for privacy coins during the “Uptober” rally. The coin remains nearly 96% below its all-time high from 2016. Trading volume has soared by 1,150%, with shielded transactions rising by 15.5% month-on-month, indicating strong user demand. The rally is attributed to renewed interest in zk-SNARK technology, the zero-knowledge proof system behind Zcash’s privacy features. Zcash’s development team has outlined an 18-month roadmap to enhance scalability, security, and interoperability.

On the regulatory front, the European Union plans to ban privacy-preserving cryptocurrencies like Monero and Zcash as part of its new Anti-Money Laundering Regulation (AMLR) effective in 2027. The rules will prohibit handling of anonymity-enhanced tokens by banks, financial institutions, and crypto service providers. The move aligns with a global trend of increasing scrutiny on privacy tools, with Dubai already outlawing privacy coins and imposing fines on non-compliant firms. This regulatory push comes amid a growing debate between privacy advocates and authorities over the role of anonymity in digital assets.

Read more at Yahoo Finance: Zcash (ZEC) Explodes 100% as Privacy Coin Demand Surges Amid Uptober Rally