JPMorgan Chase freezes multiple stablecoin startup accounts, involving high-risk markets such as Venezuela.

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On December 27, The Information reported that JPMorgan Chase has frozen accounts belonging to at least two rapidly growing stablecoin startups operating in high-risk countries such as Venezuela in recent months. The bank's move highlights the risks associated with cryptocurrency transactions, as banks must understand their business dealings and the source of funds. The bank also froze Blindpay's accounts.

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