Many countries ban encryption payments, and overseas transactions may exist in a gray area.

On June 27, in recent years, the popularity of stablecoins as a payment method for Crypto Assets has been continuously increasing, with many global companies adopting this new form of payment. Nevertheless, Crypto Assets payments are still prohibited for retail users in several countries, including Indonesia, Russia, and Turkey.

However, some legal experts and crypto regulatory observers point out that although these countries prohibit crypto payments domestically, using Crypto Assets to pay for overseas services may be legally permissible.

Turkish lawyer and managing partner of Paldimoglu Law Firm, Meric Paldimoglu, stated: “In general, the law of a country applies only to events occurring within the territory of that country or to its own citizens.”