According to the Wu Blockchain report, the Indonesian government has issued a list of 501 cryptocurrencies that can be traded in the country. The list includes cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Solana (SOL), Cardano (ADA), Ripple (XRP), Polkadot (DOT), The Sandbox (SAND), Uniswap (UNI), and others.
Cryptocurrencies are traded in Indonesia under the supervision of the Commodity Futures Trading Regulatory Agency. The Indonesian government demonstrates support for crypto assets despite the concerns raised about them in the United States. The U.S. Securities and Exchange Commission (SEC) has filed lawsuits against some cryptocurrencies, including Ripple (XRP), Cardano (ADA), Solana (SOL), and The Sandbox (SAND), claiming that they are unregistered securities.
Indonesia had plans to establish a cryptocurrency exchange this year, but the regulatory authority for these assets was transferred from the Commodity Futures Trading Regulatory Agency to the Financial Services Authority.