The Indonesian government recently revealed a comprehensive list of trading cryptocurrencies, indicating a growing acceptance of digital property in the country. In particular, the government recognized more than 500 tokens that may be exchanged in physical marketplaces in a recent official document.
A number of well-known cryptocurrencies are included on the list, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Solana (SOL), Cardano (ADA), Ripple (XRP), Polkadot (DOT), Sandbox (SAND), Uniswap (UNI), and many others.
Distinguished The event was brought to the attention of the cryptocurrency community by Chinese language writer Colin Wu, which sparked questions regarding Indonesia’s attitude towards cryptocurrencies and prospective intentions to accept them as legal methods of payment.
It’s important to note that the listed tokens included those that the U.S. Securities and Exchange Commission (SEC) has recognized as securities.
Following the news, an Indonesian YouTuber expressed satisfaction with his country’s position as a crypto-friendly nation, highlighting the fact that Indonesia now sees cryptocurrencies as commodities. However, he noted that using cryptocurrencies for payments is not yet legal anywhere in the country.
The YouTuber made a suggestion that Indonesia may allow cryptocurrency as payment methods. Although the country does not now permit the use of Bitcoin for payments, he noted that attempts are being made to change that.
Notably, Indonesia has been a friendly country for adopting cryptocurrencies. Following a change in regulatory authority, it started a cryptocurrency change in January of this year. It suggested a National Digital Asset Alternate later in February.
The Indonesian government’s decision to increase the number of tradable tokens on the list demonstrates a forward-thinking approach to digital property. The longer term appears hopeful for Indonesia’s crypto enthusiasts because the country is investigating the legislative landscape of cryptocurrency-related factors.