Analysis: Some countries prohibit domestic cryptocurrency payments, but overseas payments may still be legal

BlockBeats News, June 27th. According to Cointelegraph, in recent years, the popularity of stablecoins as a means of cryptocurrency payment has been steadily increasing, with many global enterprises adopting this new form of payment. Nevertheless, cryptocurrency payments are still prohibited for retail use in several countries, including Indonesia, Russia, and Turkey.

However, some legal experts and cryptocurrency regulatory observers have pointed out that, despite domestic bans on cryptocurrency payments in these countries, using cryptocurrency for cross-border services payments may be permissible under the law.

Meric Paldimoglu, a lawyer in Turkey and Managing Partner at Paldimoglu Law Firm, stated: "Generally speaking, a country's law applies only to events that occur within its borders or to its own citizens."