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Viewpoint: Multiple countries restrict domestic cryptocurrency payments but do not prohibit overseas transactions, raising concerns for FATF regarding cross-border compliance loopholes

ChainCatcher news, according to Cointelegraph, although countries like China, Indonesia, and Russia prohibit retail crypto payments, legal experts point out that residents in these countries still operate in a legal gray area when using cryptocurrencies to pay for overseas services. After the Georgian travel company Tripzy opened a USDT payment channel through CityPay in June 2025, tourists from Russia and Turkey can book services across borders using stablecoins, as neither country's laws explicitly prohibit such actions.A partner at the Turkish law firm Paldimoglu stated that their "Regulation on the Prohibition of Payments in Crypto Assets" only restricts local licensed institutions; the founder of Russia's D&A CryptoMap also confirmed that the country's laws do not restrict overseas crypto payments. However, legal overlaps pose regulatory risks, and experts warn that such transactions may be viewed by the West as a "loophole for evading sanctions."The latest report from the Financial Action Task Force (FATF) shows that as of 2024, the proportion of illegal transactions involving stablecoins has risen to 50%, including those related to North Korean hackers and terrorism financing. The agency announced that it will release a special assessment report on anti-money laundering for stablecoins in Q1 2026.
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