Zcash Foundation Obtains Status as Charitable Organization

The press service of Zcash Foundation non-profit organization issued a statement that the company received the status as a charitable organization. According to Zcash Foundation representatives, the company is the first charitable foundation whose activities are aimed at increasing the convenience of Internet payments and creating an infrastructure that could fully ensure the privacy of user data.
In the official blog of the Zcash Foundation, it is said that the fund obtained the status 501 (c) (3), which frees it from some of the federal taxes within the jurisdiction of the United States. Under the laws on US taxes, organizations whose activities pursue religious, charitable, educational, literary or scientific purposes are subject to partial exemption from income taxation.
As the project also stated in its blog, the company will continue to engage in educational activities in the field of cryptocurrency technologies, as well as mechanisms to ensure online privacy and security of computer networks. Among other things, Zcash Foundation will support research on cryptographic and blockchain technologies, focusing on works related to the topic of zero-disclosure and cryptographic technologies related to this issue. The fund will also help to create a decentralized Zcash network as an open public infrastructure.