Indonesia Endorses 1,444 Crypto Assets for Trading

Indonesia has solidified its presence in the crypto market by approving 1,444 cryptocurrencies to be traded freely in the country. The endorsement shows the Asian country’s growing commitment to regulating and expanding its digital asset market.

Indonesia Embraces 1,444 Crypto Assets

PT Central Finansial X (CFX), a major crypto futures exchange in Indonesia, is in charge of deciding which crypto assets can be traded. The approval of 1,444 tokens is based on Financial Services Authority (OJK) Regulation No. 27 of 2024.

According to this regulation, exchanges must create a list of cryptocurrencies that meet specific standards and can be traded legally. Additionally, this list needs to be updated regularly to reflect market changes and new developments in the cryptocurrency world.

Besides well-known cryptocurrencies like Ethereum (ETH) and Dogecoin (DOGE), the list also includes tokens such as Doge Killer (LEASH), DODO (DODO), and dYdX (DYDX). The approval of these tokens shows that Indonesia is open to a wide variety of digital assets, which gives investors more options to choose from. Recall that Indonesia’s financial regulator issued an operational license to Tokocrypto, a subsidiary of the leading crypto exchange Binance.

The update ensures that only crypto assets listed by the exchange can be traded. Crypto exchanges operating in the country must update their lists at least every three months to add or remove digital assets in response to market developments. This regulation helps create a safe and transparent environment for crypto traders, ensuring that only regulated assets are available for investment.

Crypto Adoption Growing Worldwide

Other countries around the world are also working to regulate and embrace crypto. For instance, El Salvador stands out as a leader in adopting cryptocurrencies. Since recognizing Bitcoin as a legal tender, the country has committed to frequent Bitcoin acquisitions, launched Bitcoin-backed bonds, encouraged the use of blockchain technology to boost its economy, and introduced a law making the adoption of Bitcoin (BTC) and other cryptocurrencies voluntary for its citizens.

The United States, on the other hand, is steadily becoming more crypto-friendly under the current Trump administration. This has moved many crypto companies to expand their operations into the country.

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