JPMorgan freezes accounts of several stablecoin startups, involving high-risk markets such as Venezuela

According to The Information, in recent months, JPMorgan has frozen accounts used by at least two rapidly growing stablecoin startups that operate in high-risk countries like Venezuela. The bank's actions highlight the risks that cryptocurrency trading poses to banks, as they must understand their business counterparts and the sources of funds.

The bank has frozen the account of Blindpay.