- The authorities gave them the status of a commodity
- And allowed to trade on exchanges under the supervision of the regulator
Indonesian Parliament gave green light for trading 501 tokens. This list includes well-known assets – Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Solana (SOL), Cardano (ADA), Ripple (XRP), Polkadot (DOT), Sandbox (SAND), Uniswap (UNI) and many others.
Unlike the US, Indonesia will not list them as securities. Coins will be traded according to the same algorithm as commodity contracts on exchanges. And supervision will pass into the hands of the Commodity Futures Trading Regulatory Agency (Bappebti).
The well-known blogger Crypto Daily – Indonesia commented on the news. He wrote that his country has a crypto-friendly policy. So far, Indonesia only allows tokens as a commodity for trading. But the expert hopes that in the coming years, the authorities will recognize cryptocurrencies as legal tender.
In January of this year, Indonesia allowed the operation of crypto exchanges. Later in February, they proposed the creation of a National Digital Asset Exchange. But until now, the authorities have recognized only a small list of tokens.
Interestingly, Indonesia is promoting the idea of financial independence from other countries. To do this, they are ready for drastic measures – even to refuse Visa and Mastercard credit cards.