Core Viewpoint - JPMorgan has frozen accounts of at least two rapidly growing stablecoin startups, highlighting the risks associated with cryptocurrency transactions for banks, which must adhere to compliance requirements such as "Know Your Customer" and source of funds checks [1][2]. Group 1: Account Freezing - The two frozen startups are Blindpay and Kontigo, both backed by venture capital firm Y Combinator, focusing primarily on the Latin American market [1][2]. - These startups have established business relationships with JPMorgan through digital payment company Checkbook [1][2]. Group 2: Legal Risks - The operations of these startups in Venezuela and other regions, which are affected by sanctions or other restrictions, pose potential legal risks for JPMorgan [1][2]. - JPMorgan stated that the decision to freeze the accounts is unrelated to the nature of the startups' businesses [1][2]. Group 3: JPMorgan's Position - A spokesperson for JPMorgan emphasized that the matter is not connected to the stablecoin companies themselves, as the bank provides services to stablecoin issuers and collaborates with related businesses [1][2]. - Recently, JPMorgan assisted a stablecoin issuer in completing a public listing [1][2].