So I guess there is a market opportunity for a small nation to create 25 "cities" named "Los Angeles", "New York", "Chicago", "San Francisco", ... so that people can run personal ads in the city of their choice. Sort of a 'mirror country' :-). Add in a VOIP provider that lets you provide country phone numbers that re-direct to US numbers and voila, your first "portal country" as a way to hack US internet law.

Until someone finds a way to sue them in US court for something that happens in Peru

The majority of eligible people in your area aren't going to use that fallback. Effectively dead.