AlphaBay Will Add Etherum to its Payment Options
Following the incredible rally led by Ethereum in the last month, the popular Alphabay market, a deepweb e-commerce platform, announced that it will add Ether as a payment method. The market is currently laying out the framework to make ETH acceptance possible, and will enable Ethereum deposits and withdrawals starting May 1st, 2017.
"We are implementing Ethereum acceptance and the new currency, including deposits and withdrawals, will be fully operational on May 1st, 2017."
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Zcash Rallies After the Launch of New Non-Profit Foundation
The price of Zcash has risen about 50% after the announcement of the Zcash Foundation, reaching 0.07048 BTC. The Zcash Foundation will now be endowed with 273,000 zcash. As part of the network's rules, 10% of the cryptocurrency's mining rewards are automatically awarded to stakeholders. As such, Zcash Company CEO and project co-founder Zooko Wilcox expects to donate half of his "founders reward" to the entity.
Wilcox said:
"In the long run, it is necessary for there to be an independent, inclusive, non-profit body to steward the technology in the interests of all."
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Chinese Regulators Discuss Draft Rules With Bitcoin Exchanges
The People's Bank of China has issued a discussion paper to domestic exchanges on which it is seeking comment on the proposed requirements. The document details both a standardization of anti-money laundering (AML) policies and the establishment of a customer identification system. First-time users will need on-site certification in order to deposit funds and will then be required present identification at the time of registration. For customers doing ¥50,000 (over $7,200) in volume or more, a remote video certification will be required for identity authentication. The paper also stipulates that there must be senior management personnel responsible for AML procedures, including reporting questionable transactions.
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