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> and see how quickly funds are frozen by various other exchanges

As long as this is a community decision, I don't see a problem. Centralization would need a central authority to decide which coins to freeze.

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So if I accept bitcoin as payments, do I have to keep to up to date with all the blacklists that are out there? Otherwise I might end up accepting coins that are "blacklisted" and are worthless. Who is the authoritative source for these blacklists? Are merchants forced to subscribe to every blacklist out there, in fear that even some chance of accepting blacklisted coins is too much? We kind of see this in action in the fiat world, with payment providers freezing accounts that sent transactions with certain keywords.

It's not a community decision, it's a decision by private corporations (binance, coinbase et al) often driven by government regulation (e.g. KYC)

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