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‘Slippery slope’ as new Bitcoin mining pool censors transactions

Blockchain analytics platform BlockSeer has launched the private beta version of a new Bitcoin (BTC) mining pool (Blockseer Mining Pool) that censors transactions from blacklisted wallets.

The pool will use BlockSeer and Walletscore’s labeling data among other verified sources, such as the United States Office of Foreign Assets Control (OFAC) blacklist for crypto, to identify BTC transactions it does not wish to process. The pool also requires all miners to pass Know-Your-Customer (KYC) protocols. DMG’s COO Sheldon Bennett stated:

Former Monero lead developer Riccardo Spagni (@fluffypony) suggested on Twitter this could be the start of a slippery slope. He speculated that transaction censorship from Bitcoin mining pools may become widespread as a result of regulatory pressure and said the concern was of: “regulators looking at this and thinking it’s a good idea ‘for extreme cases like the OFAC crypto list’, then it becomes enforceable.”

“Adding more privacy to Bitcoin would prevent this,” Spagni suggested, adding: Read from source….