Some Countries Ban Domestic Crypto Payments, But Overseas Transactions May Still Be Legal

In Brief:

Countries like Indonesia, Russia, and Turkey prohibit domestic cryptocurrency payments.

Legal experts suggest crypto payments for overseas services could still be allowed.

Despite the growing popularity of stablecoins for cryptocurrency payments, several countries, including Indonesia, Russia, and Turkey, have imposed restrictions on domestic cryptocurrency transactions. However, legal experts argue that these bans may only apply to transactions within national borders, and using cryptocurrency for payments to overseas services could still be legal. Meric Paldimoglu, a Turkish lawyer, emphasized that a country’s laws generally only apply to events within its borders or involving its citizens, leaving the door open for international crypto payments. This distinction highlights the complexity of crypto regulations and the evolving landscape of global digital finance.

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