Indonesian Government Gives Green Signal to XRP, Cardano, and 499 Other Cryptocurrencies for Trading
In a positive move for the crypto market, the Indonesian government has given the green light for the trading of 501 cryptocurrencies, including popular tokens like BTC, ETH, LTC, SOL, ADA, XRP, DOT, SAND, and UNI.
This comprehensive list covers almost all tokens recognized as securities by the U.S. SEC, signaling a significant step forward.
The trading of cryptocurrencies in Indonesia falls under the purview of the Commodity Futures Trading Regulatory Agency, known as Bappebti. The agency recently released a document titled “Regulation of the Commodities Trading Supervisory Agency Number 4 of 2023,” which outlines the approved list of cryptocurrencies.
Notably, the list includes tokens such as Solana, The Sandbox, XRP, Cardano (ADA), Polygon (MATIC), and more, despite recent allegations by the SEC that some of these assets are securities.
Indonesia has shown support for crypto assets while maintaining caution regarding their potential impact on the national currency, the rupiah. Plans for establishing a cryptocurrency exchange this year demonstrate the country’s progressive approach, as it prepares to transfer regulatory authority over these assets to the Financial Services Authority from the commodities agency.
With this development, the Indonesian crypto market is set to thrive, providing more opportunities for investors and further advancing the adoption of digital assets.
Clever Robot News Desk 20th June 2023