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Countries Allow Overseas Crypto Despite Domestic Bans

Countries Allow Overseas Crypto Despite Domestic Bans

TokenTopNewsTokenTopNews2025/06/27 23:32
By:TokenTopNews
Key Points:

  • Some countries permit overseas crypto payments despite domestic bans.
  • Stablecoins dominate cross-border transactions.
  • Regulatory attention on cross-border crypto payments increases.
Countries Allow Overseas Crypto Despite Domestic Bans

A growing number of countries, including China and Turkey, enforce domestic bans on cryptocurrency payments while allowing overseas transactions.

Countries enforce domestic cryptocurrency payment bans while permitting overseas payments, raising regulatory uncertainties.

Countries including China, Indonesia, and Russia have instituted domestic bans on cryptocurrency payments. However, these nations do not universally extend prohibitions to overseas transactions, leading to a legal gray area. This stance attracts scrutiny from regulatory bodies such as the Financial Action Task Force (FATF).

Stablecoins, particularly USDT, USDC, and DAI, have become the preferred choice for international crypto payments. These stablecoins facilitate cross-border settlements, partially shielding users from currency fluctuations. Bitcoin and Ethereum also remain significant, underscoring their enduring utility.

The financial landscape must adapt to increased scrutiny from global regulators. This involves ensuring compliance with anti-money laundering and countering the financing of terrorism regulations while enabling seamless cross-border transactions.

The ambiguity around using crypto for overseas payments persists and could result in regulatory changes. Historical trends indicate that domestic bans often push transactions offshore, affecting stablecoins and major cryptocurrencies like Bitcoin and Ethereum.

“As a general rule, the laws of a country apply only to events occurring within that country or to its own citizens.” – Meric Paldimoglu, Managing Partner, Paldimoglu Law Firm

Regulatory opinion indicates major regulators maintain that AML, CFT, and Travel Rule compliance apply to transactions facilitated by entities under their jurisdiction, including those involving overseas counterparties.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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