Most large fiat-backed stablecoins include an administrative function that blocks named addresses. Issuers use it to comply with sanctions and court orders, and it has recovered stolen funds. It also means those tokens are not bearer instruments: your balance is permission to transact, revocable by a company.
For a trader the practical exposure is guilt by association. Receiving funds that later prove to be proceeds of a hack can, in principle, put an address under scrutiny. Frozen balances are rare but not theoretical, and there is no on-chain appeal.
Check any new token's contract for these powers before holding size, along with mint authority and upgrade rights. A token whose owner can mint or freeze at will carries admin-key-risk regardless of how decentralised the marketing sounds.
Related: admin-key-risk, fiat-backed-stablecoin, erc-20, smart-contract-audit