Can someone explain how exactly the company Circle can censor USDC payments that are in a self custodied wallet, such as MetaMask? My understanding is that the contract is immutable so how would they be able to blacklist wallets if it wasn't originally included?
Let's say someone has funded an anti-gov't protest and now they have their wallet blacklisted by USDC. Now that the USDC is blacklisted, how can the user fight back and un-censor themselves by trading the USDC for Dai? Is that possible?
The more I understand stables, the more I prefer UST.
thanks.
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