The percentage of OFAC-compliant Ethereum blocks generated daily has risen to 73%, adding to the concerns of full oversight of the Ethereum system.

OFAC is an acronym for “Office of Foreign Assets Control.”

The market has been watching Ethereum’s increasing compliance with the guidelines set by OFAC.

According to recent updates, over 73% of blocks on the Ethereum network in the past 24 hours have been identified as OFAC compliance.

After discovering that 51% of Ethereum blocks met OFAC requirements in October 2022, major crypto media companies published an article about the growing censorship issues.

But according to mevWatch data, as of November 3rd, daily block production that complies with OFAC regulations has increased to 73%.

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US Government Agency Sanctions Crypto Ports:

Subject to compliance with OFAC regulations, the US government agency can apply economic and trade sanctions to crypto outlets.

Tornado Cash and several Ethereum addresses have already been sanctioned by the agency.

As of the time of writing this article, 45% of all Ethereum blocks fully comply with OFAC regulations.

After the launch of cryptocurrency trading platforms by UnionBank, one of the largest multinational banking institutions in the Philippines, in cooperation with the Swiss crypto company Metaco, the adoption of bitcoin indices declined while its Ethereum counterpart accelerated.

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This indicates that despite the protocol’s alleged censorship, it is still widely used today.

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