The Indonesian government has shared it by listing 500 cryptocurrencies that can be traded.
The list of cryptocurrencies announced by the Indonesian government is an important step forward as an indicator of the increasing adoption of digital assets in the country.
Indonesian Government Lists 500 Cryptocurrencies That Can Be Traded
The list of cryptocurrencies announced by the Indonesian government has had wide repercussions in the country. The government’s move came amid regulatory pressure from the worldwide cryptocurrency industry.
The Indonesian government has released a list of tradable cryptocurrencies, including BTC, ETH, LTC, SOL, ADA, XRP, DOT, SAND, UNI etc., a total of 501 cryptocurrencies, covering almost all tokens recognized as securities by the US SEC. https://t.co/iVObrH1aXx
— Wu Blockchain (@WuBlockchain) June 18, 2023
In the announced list, leading cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Solana (SOL), Cardano (ADA), Ripple (XRP), Polkadot (DOT), Sandbox (SAND), Uniswap (UNI) currencies and more. This has sparked discussions that Indonesia has taken a crypto-friendly stance and has the potential to use cryptocurrencies as a legal means of payment.
One notable issue is that some of the tokens on the list include those recognized as securities by the US Securities and Exchange Commission (SEC). This illustrates the need to be vigilant about legal compliance while maintaining Indonesia’s regulation and adoption of digital assets.
An Indonesian YouTuber expressed his pride in his country’s crypto-friendly stance. He added that Indonesia sees cryptocurrencies as a commodity. He also stated that the country is not yet accepting cryptocurrencies as a means of payment, but is striving for it. It has been implied that the possibility of Indonesia allowing cryptocurrencies for payments is being evaluated.
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