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Market News

F2Pool Leads the Way in OFAC Complianced Bitcoin Mining

The ViaBTC mining pool mined one block, the Foundry USA pool mined another, and the F2Pool mined four.

Written By:
Jalpa Bhavsar

Last updated: November 22, 2023 10:22 PM
Published November 22, 2023 10:22 PM
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Last updated: November 22, 2023 10:22 PM
Published November 22, 2023 10:22 PM
F2Pool Leads the Way in OFAC Complianced Bitcoin Mining

0xB10C Bitcoin Developer disclosed that F2Pool was the first Bitcoin mining pool to screen transactions according to OFAC penalties imposed by the United States.

0xB10C Research reveals that F2Pool became the first Bitcoin mining pool to filter transactions based on U.S. OFAC sanctions. In September and October 2023, there are six bitcoin blocks missing an OFAC-sanctioned transaction and four by F2Pool. The transactions missing from…

— Wu Blockchain (@WuBlockchain) November 22, 2023

The goal of the 0xB10C Bitcoin Developer project, Miningpool-Observer, is to identify instances in which Bitcoin mining pools are not mining transactions that they should have been mining. 

The Miningpool-Observer instance’s RSS feed indicated six blocks lacking an OFAC-approved transaction in September and October of 2023.

The ViaBTC mining pool mined one block, the Foundry USA pool mined another, and the F2Pool mined four. Any payment or expenditure made from an address approved by the Office of Foreign Assets Control of the US Department of Treasury is considered an OFAC-sanctioned transaction.

0xB10C Bitcoin Developer said, “I conclude that the reports from miningpool-observer indicating sanctioned transactions missing from blocks by ViaBTC and Foundry are likely false-positives and not the result of filtering. The transactions missing from F2Pool’s blocks are, however, likely filtered.”

Also Read: Bitcoin Mining Company Marathon Digital Mines Invalid Block

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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Jalpa Bhavsar- Senior crypto journalist at The Crypto Times
By Jalpa Bhavsar
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Jalpa Bhavsar is a Crypto Journalist with 3 years of experience in crypto, blockchain, AI, digital design, and crypto news reporting. She holds a B.Tech in Computer Science, bringing a strong technical foundation to her writing. Jalpa focuses on delivering clear, accurate, and engaging coverage of the latest trends and developments in the crypto and tech space.

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