Indonesia Releases a List of Tradable Cryptocurrencies, Turning the US SEC On Its Head
Briefly
- Indonesia’s Commodity Futures Trading Supervisory Agency has updated its list of cryptocurrencies that can be traded, demonstrating its fluid approach to digital assets.
- Global crypto trade regulation may enter a new era as a result of the stark contrast between the US SEC’s more conservative approach and the updated roster of over 501 cryptocurrencies.
- Indonesia’s commitment to growing its digital economy and creating an environment that encourages the growth of blockchain technology is emphasized by this action.
The Republic of Indonesia has taken an unexpectedly bold stance on crypto regulations that could pose a significant challenge to the US Securities and Exchange Commission (SEC).
This is because the Indonesian Commodity Futures Trading Supervisory Agency (Bappebti) recently released a comprehensive list of cryptocurrencies that can be traded. It demonstrates a stark contrast to the more cautious stance taken by the US SEC.
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Bringing Clarity to the Crypto Market
The most recent list includes a staggering 501 cryptocurrencies that have been approved for trading on the physical cryptocurrency market in Indonesia. Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) are among them. Chainlink (LINK), Uniswap (UNI), and Solana (SOL) are among the more recent players to enter the market.
After conducting a thorough evaluation in accordance with numerous domestic regulations, the regulator’s decision, which was implemented on June 9, 2023, comes as a result. This includes changes to the Commodity Futures Trading Supervisory Agency’s Regulation No. 11 of 2022 as well as government regulations for putting commodity futures trading into practice.
The forward-thinking stance of Indonesia contrasts with the more cautious approach that the US SEC takes to regulating cryptocurrencies. The US organization has yet to provide a comprehensive list of digital assets that can be traded. As a result, businesses and traders will remain in a state of flux, which could impede the sector’s expansion.
Full List of Tradable Cryptos in Indonesia
The extensive list that Bappebti released appears to be an attempt to meet the growing demands of crypto traders in the country while also increasing industry transparency. The crypto industry as a whole could benefit greatly from this move. It demonstrates a mature regulatory strategy that may compel other nations, including the United States, to follow suit.
In the Bappebti document, the Indonesian regulatory agency labeled the following cryptos as tradable assets:
- Ethereum (ETH)
- Klaytn (KLAY)
- Solana (SOL)
- Tezos (XTZ)
- Iota (MIOTA)
- USD Coin (USDC)
- Polkadot (DOT)
- The Sandbox (SAND)
- Bitcoin (BTC)
- Cosmos (ATOM)
- Protocol (ZRX)
- Litecoin (LTC)
- Cardano (ADA)
- Chainlink (LINK)
- Uniswap (UNI)
- Stellar (XLM)
- Binance USD (BUSD)
- Ripple (XRP)
- Tron (TRX)
- Decentraland (MANA)
- Enjin Coin (ENJ)
- UMA (UMA)
- Polygon (MATIC)
- Basic Attention Token (BAT)
- Ren (REN)
- Qtum (QTUM)
- Solar (SXP)
- TrueUSD (TUSD)
- Binance Coin (BNB)
- Theta Network (THETA)
- Synthetix (SNX)
- Compound (COMP)
- Cronos (CRO)
- VeChain (VET)
- Aurora (AOA)
- Status (SNT)
- Cartesi (CTSI)
- Dogecoin (DOGE)
- Maker (MKR)
- Tether (USDT)
- Storj (STORJ)
- Venus (XVS)
- Zilliqa (ZIL)
- OMG Network (OMG)
- Harmony (ONE)
- MultiversX (EGLD)
- Orbs (ORBS)
- iExec RLC (RLC)
- Algorand (ALGO)
- EOS (EOS)
- WazirX (WRX)
- Wrapped Bitcoin (WBTC)
- Electroneum (ETN)
- Avalanche (AVAX)
- PancakeSwap (CAKE)
- Quant (QNT)
- Polymath (POLY)
- Dai (DAI)
- Loopring (LRC)
- Ehtereum Classic (ETC)
- Numeraire (NMR)
- Bitcoin Cash (BCH)
- yearn.finance (YFI)
- Neo (NEO)
- Origin Protocol (OGN)
- Kusama (KSM)
- Waves (WAVES)
- Stella (ALPHA)
- Nano (XNO)
- Golem (GLM)
- Ravencoin (RVN)
- Fantom (FTM)
- Kava (KAVA)
- NEM (XEM)
- BitTorrent (BTTOLD)
- ICON (ICX)
- Serum (SRM)
- Pax Dollar (USDP)
- Kyber Network Crystal v2 (KNC)
- Bitcoin Diamond (BCD)
- Ardor (ARDR)
- Ontology (ONT)
- JUST (JST)
- Siacoin (SC)
- XDC Network (XDC)
- OKB (OKB)
- Band Protocol (BAND)
- PAX Gold (PAXG)
- Ankr (ANKR)
- DigiByte (DGB)
- Ampleforth (AMPL)
- Orion Protocol (ORN)
- Bitcoin SV (BSV)
- Dent (DENT)
- Request (REQ)
- LYFE (LYFE)
- WAX (WAXP)
- Lisk (LSK)
- StormX (STMX)
- Loom Network (LOOM)
- Metadium (META)
- COTI (COTI)
- High Performance Blockchain (HPB)
- Terra Classic (LUNC)
- BakeryToken (BAKE)
- PlayGame (PXG)
- Balancer (BAL)
- Powerledger (POWR)
- Augur (REP)
- DFI.Money (YFII)
- Coin98 (C98)
- UNUS SED LEO (LEO)
- Moonriver (MOVR)
- Unifi Protocol DAO (UNFI)
- Oasis Network (ROSE)
- Spell Token (SPELL)
- Verasity (VRA)
- SUN (SUN)
- Chia (XCH)
- YooShi (YOOSHI)
- BurgerCities (BURGER)
- Enzyme (MLN)
- Dego Finance (DEGO)
- MOBOX (MBOX)
- Kadena (KDA)
- OctoFi (OCTO)
- Arweave (AR)
- Bluzelle (BLZ)
- Ellipsis (EPX)
- Efinity Token (EFI)
- Yield Guild Games (YGG)
- Ooki Protocol (OOKI)
- Star Atlas (ATLAS)
- NanoByte Token (NBT)
- ARPA (ARPA)
- Wrapped NXM (WNXM)
- Frax Share (FXS)
- Ethereum Name Service (ENS)
- Energi (NRG)
- Hegic (HEGIC)
- Merit Circle (MC)
- Convex Finance (CVX)
- Highstreet (HIGH)
- Bitcoin Standard Hashrate Token (BTCST)
- Frontier (FRONT)
- Orbit Chain (ORC)
- Phala Network (PHA)
- IDK (IDK)
- Glitch (GLCH)
- Selfkey (KEY)
- Beefy Finance (BIFI)
- VCGamers (VCG)
- TROY (TROY)
- Raydium (RAY)
- Litentry (LIT)
- Render Token (RNDR)
- Keep3rV1 (KP3R)
- Aurory (AURY)
- Celer Network (CELR)
- TrustSwap (SWAP)
- NULS (NULS)
- JasmyCoin (JASMY)
- Efforce (WOZX)
- Crypto Global United (CGU)
- Rook (ROOK)
- Flux (FLUX)
- Tranchess (CHESS)
- LinkEye (LET)
- Chainbing (CBG)
- Ethernity (ERN)
- ABBC Coin (ABBC)
- TitanSwap (TITAN)
- Velo (VELO)
- VidyX (VIDYX)
- King DAG (KDAG)
- Dock (DOCK)
- Livepeer (LPT)
- Contentos (COS)
- Pando (PANDO)
- Coinweb (CWEB)
- Marlin (POND)
- COMBO (COMBO)
- IQ (IQ)
- JOE (JOE)
- Kin (KIN)
- Gitcoin (GTC)
- SuperVerse (SUPER)
- Splintershards Token (SPS)
- Santos FC Fan Token (SANTOS)
- Radicle (RAD)
- Automata Network (ATA)
- Saffron.Finance (SFI)
- Bread (BRD)
- BinaryX (BNX)
- Alpine F1 Team Fan Token (ALPINE)
- Travala.com (AVA)
- Ergo (ERG)
- Spartan Protocol (SPARTA)
- PowerPool (CVP)
- League of Kingdoms Arena (LOKA)
- Dusk Network (DUSK)
- AIOZ Network (AIOZ)
- Mines of Dalarnia (DAR)
- Degree Crypto Token (DCT)
- Carry (CRE)
- Gas (GAS)
- Alitas (ALT)
- DEAPcoin (DEP)
- BTRIPS (BTR)
- Attila (ATT)
- Kunci Coin (KUNCI)
- SHILL Token (SHILL)
- Tokenplace (TOK)
- Yieldly Token (YLDY)
- DGPayment (DGP)
- Acala Token (ACA)
- SuperRare (RARE)
- CLV (CLV)
- Play It Forward DAO (PIF)
- Stratis (STRAX)
- Bitcoin Gold (BTG)
- Aergo (AERGO)
- GXChain (GXC)
- Pundi X (PUNDIX)
- Syscoin (SYS)
- Rupiah Token (IDRT)
- Aelf (ELF)
- BORA (BORA)
- Waltonchain (WTC)
- STASIS EURO (EURS)
- Decred (DCR)
- MediBloc (MED)
- Ark (ARK)
- Hive (HIVE)
- Metal DAO (MTL)
- PIVX (PIVX)
- Steem (STEEM)
- BitShares (BTS)
- Gemini Dollar (GUSD)
- Wing Finance (WING)
- Nexus (NXS)
- STP (STPT)
- Nxt (NXT)
- v.systems (VSYS)
- Firo (FIRO)
- VIDY (VIDY)
- DATA (DTA)
- Einsteinium (EMC2)
- Groestlcoin (GRS)
- Navcoin (NAV)
- district0x (DNT)
- LBRY Credits (LBC)
- Aragon (ANT)
- Bytom (BTM)
- NKN (NKN)
- DAD (DAD)
- GoChain (GO)
- Ambire AdEx (ADX)
- Hashgard (GARD)
- Function X (FX)
- PumaPay (PMA)
- Tokenomy (TEN)
- AidCoin (AID)
- Vertcoin (VTC)
- Civic (CVC)
- Hifi Finance (HIFI)
- BTU Protocol (BTU)
- Cosmo Coin (COSM)
- Hedera (HBAR)
- Wanchain (WAN)
- Toko Token (TKO)
- DIA (DIA)
- NEAR Protocol (NEAR)
- Holo (HOT)
- VeThor Token (VTHO)
- Gala (GALA)
- THORChain (RUNE)
- SushiSwap (SUSHI)
- Utrust (UTK)
- Internet Computer (ICP)
- Chiliz (CHZ)
- Chromia (CHR)
- MyNeighbourAlice (ALICE)
- Theta Fuel (TFUEL)
- Polkastarter (POLS)
- Helium (HNT)
- Stacks (STX)
- Fetch.ai (FET)
- Alchemix (ALCX)
- Aave (AAVE)
- dYdX (DYDX)
- Reef (REEF)
- TomoChain (TOMO)
- Axie Infinity (AXS)
- Bancor (BNT)
- Audius (AUDIO)
- Ocean Protocol (OCEAN)
- Illuvium (ILV)
- Celsius (CEL)
- Conflux (CFX)
- ForTube (FOR)
- Keep Network (KEEP)
- Dvision Network (DVI)
- Telcoin (TEL)
- Injective (INJ)
- Alpaca Finance (ALPACA)
- Biconomy (BICO)
- Pintu Token (PTU)
- Curve DAO Token (CRV)
- Aavegotchi (GHST)
- TerraClassicUSD (USTC)
- Trust Wallet Token (TWT)
- 1inch Network (1INCH)
- eCash (XEC)
- SKALE (SKL)
- IOST (IOST)
- Mina (MINA)
- Shentu (CTK)
- Badger DAO (Badger)
- ThunderCore (TT)
- Anyswap (ANY)
- WOO Network (WOO)
- The Graph (GRT)
- Filecoin (FIL)
- IoTex (IOTX)
- Mdex (MDX)
- Nexo (NEXO)
- Shiba Inu (SHIB)
- Alchemy Pay (ACH)
- Vulcan Forged PYR (PYR)
- Reserve Rights (RSR)
- Prom (PROM)
- Ariva (ARV)
- TrueFi (TRU)
- Celo (CELO)
- WInkLInk (WIN)
- Perpetual Protocol (PERP)
- API3 (API3)
- Cindrum (CIND)
- Apecoin (APE)
- Voxies (VOXEL)
- BIDR (BIDR)
- Dao Maker (DAO)
- Astar (ASTR)
- renBTC (RENBTC)
- Amp (AMP)
- KOK (KOK)
- Achain (ACT)
- Linear Finance (LINA)
- Harvest Finance (FARM)
- Smooth Love Potion (SLP)
- Orchid (OXT)
- KardiaChain (KAI)
- Revain (REV)
- HedgeTrade (HEDG)
- BarnBridge (BOND)
- Anchor Protocol (ANC)
- Mirror Protocol (MIR)
- XSGD (XSGD)
- Nervos Network (CKB)
- Virtua (TVK)
- SafePal (SFP)
- Ana Coin (ANA)
- Flow (FLOW)
- Alien Worlds (TLM)
- Immutable (IMX)
- PlayDapp (PLA)
- DODO (DODO)
- Biswap (BSW)
- IDEX (IDEX)
- Auto (AUTO)
- DeXe (DEXE)
- Nusa (NUSA)
- STEPN (GMT)
- Secret (SCRT)
- Measurable Data Token (MDT)
- Nexo (NEXO)
- Lido DAO (LDO)
- KuCoin Token (KCS)
- LTO Network (LTO)
- MANTRA (OM)
- Huobi Token (HT)
- MovieBloc (MBL)
- Tellor (TRB)
- Mask Network (MASK)
- Observer (OBSR)
- Optimism (OP)
- Moonbeam (GLMR)
- MARBLEX (MBX)
- LooksRare (LOOKS)
- VITE (VITE)
- Osmosis (OSMO)
- Galxe (GAL)
- Aptos (APT)
- Everscale (EVER)
- Ontology Gas (ONG)
- Gnosis (GNO)
- Metacraft (MCT)
- BitTorrent (BTT)
- Manchester City Fan Token (CITY)
- Streamr (DATA)
- S.S. Lazio Fan Token (LAZIO)
- Kava Lend (HARD)
- LeverFi (LEVER)
- Ignis (IGNIS)
- EthereumPoW (ETHW)
- PERL.eco (PERL)
- PlatON (LAT)
- T-mac DAO (TMG)
- ONBUFF (ONIT)
- Terra (LUNA)
- GMX (GMX)
- Hiblocks (HIBS)
- PLC Ultima (PLCU)
- Krypton DAO (KRD)
- FC Barcelona Fan Token (BAR)
- Stargate Finance (STG)
- Multichain (MULTI)
- Bonfida (FIDA)
- Cream Finance (CREAM)
- Adappter Token (ADP)
- Threshold (T)
- IRISnet (IRIS)
- Beta Finance (BETA)
- dForce (DF)
- ETHUP (ETHUP)
- Flamingo (FLM)
- Komodo (KMD)
- pNetwork (PNT)
- Bounce Token (AUCTION)
- Bella Protocol (BEL)
- FIO Protocol (FIO)
- QuickSwap (QUICK)
- FC Porto Fan Token (PORTO)
- Defigram (DFG)
- ConstitutionDAO (PEOPLE)
- Mithril (MITH)
- WEMIX (WEMIX)
- UniLend (UFT)
- BENQI (QI)
- AC Milan Fan Token (ACM)
- TokenClub (TCT)
- ETHDOWN (ETHDOWN)
- Cortex (CTXC)
- BNBDOWN (BNBDOWN)
- Paris Saint-Germain Fan Token (PSG)
- Volt Inu V2 (VOLT)
- Akropolis (AKRO)
- Atletico De Madrid Fan Token (ATM)
- OG Fan Token (OG)
- Abyss (ABYSS)
- ADAUP (ADAUP)
- MATICBULL2021 (MATICBULL2021)
- VIDT DAO (VIDT)
- BNBUP (BNBUP)
- XRPUP (XRPUP)
- SOLVE (SOLVE)
- MATICBEAR (MATICBEAR)
- New BitShares (NBS)
- Adventure Gold (AGLD)
- DOTUP (DOTUP)
- DOTDOWN (DOTDOWN)
- RSK Infrastructure Framework (RIF)
- Tribe (TRIBE)
- Aion (AION)
- BTCUP (BTCUP)
- StaFi (FIS)
- Voyager Token (VGX)
- Kommunitas (KOM)
- Vexanium (VEX)
- Honest (HNST)
- Duckie Land (MMETA)
- SANGKARA MISA (MISA)
- Hara Token (HART)
- Mira (MIRA)
- GICTrade (GICT)
- Tokoin (TOKO)
- ASIX+ (ASIX+
- AK12 (AK12)
- Shanum (SHAN)
- Arbitrum (ARB)
- Rocket Pool (RPL)
- Sui (SUI)
- SingularityNET (AGIX)
- Hashflow (HFT)
- Flare (FLR)
- SPACE ID (ID)
- Blur (BLUR)
- Liquity (LQTY)
- Bitgert (BRISE)
- ID Digital Rupiah (IDDR)
- Open Campus (EDU)
- FLOKI (FLOKI)
- NEOPIN (NPT)
- Pepe (PEPE)
- Creo Engine (CREO)
- Mashida (MSHD)
- NEFTiPEDIA (NFT)
- Kuy Token (KUY)
- DOOiT (DOO)
- TWelve Zodiac (TWELVE)
Now It’s Time for the United States
An indirect challenge to the US SEC is Indonesia’s decision to publish a comprehensive list of tradable cryptocurrencies. It puts pressure on the agency to make its crypto asset policies more clear. Although regulatory oversight is necessary, it does not have to stifle innovation or restrict the growth of the cryptocurrency industry, as the Indonesian authorities’ bold stance demonstrates.
Indonesia’s regulator is demonstrating its commitment to creating a favorable environment for crypto trading by prioritizing public safety and adapting to meet the requirements of the crypto market.
Cryptocurrencies have undoubtedly emerged as an essential component of the global financial landscape. The extensive list of tradable cryptocurrencies provided by Bappebti is a sign that market participants seeking legal certainty in trading such assets have made progress.
However, it is still unclear how the SEC will react to Indonesia’s action. Will this motivate them to provide more clarity and legal protection for businesses and traders in the United States, or will they continue to take a more cautious approach? The cryptocurrency industry will closely monitor this.
