ZEC Resigns Core Developers Over Governance Dispute

The Electric Coin Company (ECC), the core development team behind Zcash (ZEC), has officially resigned following allegations of constructive discharge by Bootstrap, the nonprofit organization responsible for governing ECC. Josh Swihart, the former CEO of ECC, accused the Bootstrap board of creating intolerable working conditions, which led to the team's departure. The ECC team has since announced the formation of a new company to continue their work on privacy-focused technology.

The dispute centers on strategic direction and governance, with ECC claiming that Bootstrap has steered the project away from its original mission. Despite the team's resignation, the Zcash protocol remains unaffected, as the conflict is limited to governance rather than technical operations. The departure has raised concerns about the future of Zcash, particularly regarding project leadership and regulatory alignment.

The Zcash Foundation also announced that the U.S. Securities and Exchange Commission (SEC) has concluded its 2023 investigation into its digital asset offerings without recommending any enforcement action. This outcome was seen as a reflection of the foundation's commitment to transparency and compliance. The closure of the investigation provides regulatory clarity for Zcash as a privacy-centric asset, especially in light of the broader regulatory shift under the Trump administration.