Coinbase is, very critically, a U.S.-based company and OFAC is, very critically, a department of the U.S. Treasury. So in a world where ETH users are trying to do a UASF to combat censorship, what happens if Coinbase’s validator complies with OFAC sanctions? Well, then Coinbase’s validator gets slashed. But as we mentioned above Coinbase runs a staking pool which holds ETH from, you guessed it, the users themselves.
Originally Posted on: https://www.coindesk.com/business/2022/08/21/can-ethereum-fight-back-against-the-uss-sweeping-censorship-attempt/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
By: George Kaloudis