I'd be really happy if it does have an anti-cheat.
Use of ePSXe before 2.0 is highly discouraged. Mednafen, RetroArch, and Duckstation are recommended for playing/testing, pSX is recommended for debugging.
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QuoteFrom Argy:
http://ffhacktics.com/smf/index.php?topic=2768.msg59032#msg59032
Essentially, just change the crystallisation text and then you should be fine
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