Indonesian Government Unveils List of 501 Tradable Cryptocurrencies

• The Indonesian government released a list of over 500 tradable coins.
• It included prominent tokens such as SOL, ADA, XRP, DOT, SAND, and UNI.
• Discussions arise regarding Indonesia’s adoption of cryptos as legal tender.

The Indonesian government has unveiled an extensive list of tradable cryptocurrencies, signaling its growing acceptance of digital assets. Specifically, in a recent official document, the government recognized over 500 tokens that can be traded in physical markets.

The list encompasses prominent cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Solana (SOL), Cardano (ADA), Ripple (XRP), Polkadot (DOT), Sandbox (SAND), Uniswap (UNI), and many others. 

Prominent Chinese reporter Colin Wu brought the development to the crypto community’s attention, sparking discussions about Indonesia’s crypto-friendly stance and potential plans to allow cryptocurrencies as a legal means of payment.

It is worth mentioning that the listed tokens included those recognized as securities by the U.S. Securities and Exchange Commission (SEC).

Following the news, an Indonesian YouTuber expressed pride in his country’s crypto-friendly status, emphasizing that Indonesia currently views crypto as commodities. However, he acknowledged that cryptos are not yet permitted as a means of payment within the nation. 

The YouTuber hinted at the possibility of Indonesia allowing cryptocurrencies for payments. He noted that while the country currently does not permit Bitcoin as a means of payment, efforts are underway to make it legally acceptable in that regard. 

Notably, Indonesia has been a welcoming country for crypto adoption. In January this year, it launched a crypto exchange following a shift of the regulatory powers. Later in February, it proposed a National Digital Asset Exchange.

The Indonesian government’s decision to expand the list of tradable tokens further reflects a progressive approach toward digital assets. As the country explores the regulatory landscape of crypto-related concerns, the future looks promising for Indonesia’s crypto enthusiasts.