In USDC's Contract Application Binary Interface, the standard by which smart contracts interact with Ethereum, we can see the address named "blacklister" matches the one that called the blacklist function. According to Circle's website, a blacklisted address will not be able to execute transactions (receiving or sending) through the USDC smart contract. Additionally, Circle adds that all USDC balances held on blacklisted addresses may be "wholly and permanently unrecoverable."
So like banks freezing USD, seems companies issuing stablecoins can do the same.
Good or bad?
Tell me in comments.
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Well, the problem is that you run into problems if you do or you do not.
Of course people want to stop and punish thieves... and so a blacklist.
However, such a thing always ends up with some wrong people on the list
and if too many are accidentally put on there, then the coin/token may be deemed too uncertain to work.
Imagine having 0.1 tainted coin sent to your address and then you address being locked.
So, inevitably any coin/token/smart contract will kill itself by creating a blacklist.
However, the opposite is sorta true too.
Too many shady deals and people lose respect for the coin/token. (however, i have seen this just ignored and lived with: such as The US dollar)
cool
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