OFAC-compliant blocks on Ethereum hit three-month low of 47%
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The percentage of Ethereum blocks complying with orders set by the United States Office of Foreign Asset Control (OFAC) has now fallen to 47% — the lowest level since Oct. 11.
The latest milestone in reversing censorship comes nearly three months after the percentage of OFAC-compliant blocks peaked at 79% on Nov. 21.
OFAC-compliant blocks are those that exclude transactions involving parties sanctioned by the U.S. Treasury Department’s Office of Foreign Assets Control.
A fall in compliant blocks could be seen as a win for those who
OFAC most notably sanctioned Ether (ETH) and USD Coin (USDC) wallet addresses that transact using the Ethereum-based privacy mixing tool Tornado Cash on Aug. 8.
After the first 24 hours of Ethereum under its new proof-of-stake consensus mechanism on Sept. 16, only 9% of blocks were OFAC-censored.
However this figure sharply increased over the next two months, peaking at 79% on Nov. 21.
The percentage of OFAC-compliant blocks then hovered around the 68-75% range until Jan. 29 when it was 66%. Since then, it has steadily decreased despite a few minor spikes.
