Legal experts specializing in international financial regulation highlight significant loopholes in cryptocurrency payment bans, raising concerns among regulators.
Loopholes in Bans and Companies Using Them
Companies in Georgia, such as Tripzy, continue to accept crypto payments from tourists despite domestic restrictions. This creates loopholes in legislation, indicating deficiencies in regulation. An anonymous legal expert noted:
> "If Georgian companies, like Tripzy, start accepting crypto from Russian tourists, this may be seen in Brussels as a loophole."
Potential Implications for International Regulation
Legal specialists emphasize that the continued use of international crypto payments is leading to increased compliance spending for governments and a rise in cross-border transaction volumes. The loopholes exploited by companies could threaten cryptocurrencies such as BTC, ETH, USDT, and USDC.
Prospects for Stricter Control
The use of cryptocurrency despite bans may lead to stricter controls by governments and enhanced anti-money laundering measures. The global response could significantly reshape compliance frameworks in the cryptocurrency sector.
The situation regarding cryptocurrency use in Georgia and similar countries cautiously points to the need for a global re-examination of control and solutions for effective regulation of this rapidly evolving market.
