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JPMorgan Freezes Stablecoin Startups' Accounts Amid Venezuela Sanctions

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on-chain news reports that JPMorgan has frozen accounts of stablecoin startups Blindpay and Kontigo, both Y Combinator-backed. The startups face scrutiny for ties to Venezuela, a U.S. sanctions target. JPMorgan cited crypto compliance rules like KYC, AML, and OFAC as the reason. The move highlights the risks for crypto firms operating in sanctioned regions. JPMorgan continues blockchain work with JPM Coin but avoids high-risk ventures.
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