Stablecoin Startups Spark Trouble for JPMorgan

JPMorgan Chase Freezes Accounts of 2 Stablecoin Companies Doing Business in Venezuela

JPMorgan Chase reportedly froze accounts used by stablecoin startups BlindPay and Kontigo because they did business in Venezuela and other places subject to sanctions or other restrictions. Both companies largely focus on Latin America, and they connected to the bank through digital payments firm Checkbook, The Information reported Friday (Dec. 26). A JPMorgan Chase spokesperson said in the report: “This has nothing to do with stableco…

JPMorgan Freezes Stablecoin Startups’ Accounts Over Venezuela Sanctions Risks

In the rapidly evolving world of digital finance, JPMorgan Chase & Co. finds itself at a crossroads, grappling with the perils of banking cryptocurrency ventures. Recent reports reveal that the banking giant has frozen accounts belonging to at least two burgeoning stablecoin startups, underscoring the mounting tensions between traditional financial institutions and the crypto sector. This move highlights the stringent regulatory demands placed o…

Stablecoin Startups Spark Trouble for JPMorgan

JPMorgan Chase in recent months has frozen accounts used by at least two fast-growing stablecoin startups, highlighting the risk that cryptocurrency …