Southeast Asian country Indonesia, cryptocurrency makes trading legal.
According to a statement made on January 30, the country’s financial regulator, the Commodity Futures Trade Regulatory Authority (CoFTRA), has issued a decision that liberalizes the trading of digital currencies and cryptocurrencies in the country.
In the published decision, it was also announced that over 200 cryptocurrencies were approved.
Among the approved cryptocurrencies bitcoin (BTC), Ethereum (ETH), Tether (USDT), XRP, Binance Coin (BNB), polkadot (DOT), chainlink (LINK), USD Coins (USDC), wither (LEFT) and cardano (ADA) is also included.
However, I would like to point out that there is a problem. While 229 altcoins are on the approval list, the Indonesian authority CoFTRA requested that altcoins not included in the list be removed from exchanges for the safety of citizens.
Shiba Inu (SHIB) Fails To Make It To List Of Cryptocurrency Approved In Indonesia
speculative cryptocurrencies dogecoin while on the list of approved cryptocurrencies shiba inu (SHIB) failed to enter the list.
In its statement, the authority said that it uses the total market value of the cryptocurrencies in question, its score on the Coin Market Cap, and its own assessments to decide which altcoins to approve.
According to CoFTRA, the evaluation criteria included factors such as the security of cryptocurrencies, scalability, founder team, Blockchain management and verifiable roadmaps.
Speaking to CNBC, the Indonesian official made the following statements: “With CoFTRA’s regulation of cryptocurrencies, there is now a legal infrastructure for cryptocurrency trading in Indonesia. In addition, Indonesians will now feel more secure when trading cryptocurrencies.”