Binance.US lists ZEC, validating work and compliance

Binance.US announced on Wednesday it is listing Zcash (ZEC).

Of course, this was great news for those of us at the Electric Coin Co., the Zcash Foundation and the wider Zcash community — and, indeed, for freedom-loving people everywhere.

And we’d love to report that ZEC was listed based on ECC’s bulletproof arguments about the value of privacy, our passion for economic freedom and our incomparable regulatory positioning. But as it turns out, ZEC was actually evaluated and approved in the same process as all other coins listed on Binance.US, based on the company’s US Digital Asset Risk Assessment Framework.

More context for these criteria is provided in this Medium article from August. Here’s an excerpt: 

… Binance.US has adopted a Digital Asset Risk Assessment Framework to help select bona fide blockchain projects with a real chance of making the world more efficient, to provide transparency in our listing standards, and to ensure Binance.US’s compliance with applicable legal requirements. This framework, among other things, examines five areas of each candidate asset: 

  1. Whether trading the candidate asset will affect Binance.US’s ability to comply with applicable legal requirements, including, without limitation, US AML/CFT and securities laws and their implementing regulations;
  2. Whether the candidate asset’s core team has a clear strategy to solve a real problem and make the world a more efficient place;
  3. Whether the candidate asset’s community has a record of reaching compromises and consensuses to move the project forward, and how well the asset’s core team interacts with the asset’s community members;
  4. Whether the candidate asset’s market supply and demand are reasonably fair and likely to meet Binance.US’s quantitative standards; and
  5. Whether the candidate asset is technologically secure to transact and/or realistic to build.

So, in our view, ZEC’s listing by Binance.US further validates the work of ECC, the Foundation and the community since 2016. And the findings of the evaluation are, by all indications, consistent with our assertion that Zcash is fully compliant with AML / CFT regulatory requirements like those found in recent FATF recommendations.

We’ll take it!