Coinbase CEO Brian Armstrong will likely opt to shut down Ethereum (ETH) staking rather than comply with OFAC’s requirements to censor the blockchain.
While decentralization attempts to make Ethereum censorship-resistant, Coinbase is estimated to hold a 15% market share in ETH assets. Being that Coinbase owns such a large share, the company has the potential to assist in censorship of Ethereum’s base-layer protocol.
Blockchain enthusiasts and Ethereum supporters dread this threat.
The censoring conversation stems from the recent sanctions on Tornado Cash, a digital asset mixing service built on Ethereum’s blockchain. While many use the application for privacy matters, it’s also used by hackers to wash cryptocurrencies, making them …
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