Analysis: Some Countries Ban Domestic Cryptocurrency Payments, but Overseas Transactions May Still Be Legal

BlockBeats News, June 27—According to a report by Cointelegraph, in recent years, stablecoins have become increasingly popular as a means of cryptocurrency payment, with many global enterprises adopting this new payment method. Nevertheless, cryptocurrency payments remain prohibited for retail users in several countries, including Indonesia, Russia, and Turkey.

However, some legal experts and crypto regulatory observers have pointed out that while domestic crypto payments are banned in these countries, using cryptocurrencies to pay for overseas services may be legally permissible.

Meric Paldimoglu, a Turkish lawyer and managing partner at Paldimoglu Law Firm, stated, "Generally speaking, a country's laws only apply to events occurring within its territory or to its own citizens."