Opinion: Multiple Countries Restrict Domestic Crypto Payments Without Banning Overseas Transactions, Cross-Border Compliance Loopholes Raise FATF Concerns

ChainCatcher reports, citing Cointelegraph, that although countries such as China, Indonesia, and Russia prohibit retail crypto payments, legal experts point out that there remains a legal gray area regarding residents using cryptocurrencies to pay for overseas services. In June 2025, after Georgian travel company Tripzy enables USDT payment channels via CityPay, Russian and Turkish tourists will be able to book cross-border services using stablecoins, as neither country has explicitly banned such activities.

A partner at Turkish law firm Paldimoglu stated that the country's "Regulation on the Prohibition of Payments with Crypto Assets" only applies to locally licensed institutions; the founder of Russia's D&A CryptoMap also confirmed that Russian law does not restrict overseas crypto payments. However, overlapping legal frameworks create regulatory risks, and experts warn that such transactions may be viewed by Europe and the US as "loopholes for sanction evasion."

The latest report from the Financial Action Task Force (FATF) shows that, so far in 2024, illegal transactions involving stablecoins have risen to account for 50%, including activities by North Korean hackers and terrorist financing. The agency announced it will release a special anti-money laundering assessment report on stablecoins in Q1 2026.