At least two stablecoin startups lost access to their JPMorgan Chase (JPM) accounts in recent months. The firms’ activities in countries with high legal and sanctions risk triggered compliance concerns, according to a media report on Friday. JPMorgan Chase reportedly restricted access to accounts belonging to at least two stablecoin startups in recent months.
The move underscores rising regulatory risk for the crypto sector as sanctions compliance prompts banks to tighten access to crypto-related services. While the specifics of each case remain unclear, the incident highlights increased scrutiny over how crypto firms engage with traditional financial institutions and comply with global sanctions regimes. This development suggests banks may continue to heighten due diligence and restrict services for digital asset firms operating in higher-risk regions, potentially impacting stablecoin operations and liquidity workflows.
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