JPMorgan Freezes Several Stablecoin Startup Accounts, Involving Venezuela and Other High-Risk Markets

BlockBeats News, December 27th. According to The Information, in recent months, JPMorgan Chase has frozen accounts used by at least two fast-growing stablecoin startups, which operate in high-risk countries such as Venezuela. This action by the bank highlights the risks that cryptocurrency transactions pose to banks, as banks need to understand their counterparties and the source of funds. The bank froze Blindpay's account.