The Number Of Crypto Assets Traded In Indonesia Is Cut, Tokocrypto: Take Care Of Market Health

Illustration (photo: Unsplash)

JAKARTA - The number of official crypto assets traded in Indonesia is decreasing. Based on an update from the Crypto Exchange, CFX, the total crypto assets included in the official list are now reduced from 1,444 to 1,153 crypto assets.

This reduction is carried out as part of a periodic evaluation that considers a number of criteria, including digital value representations, the use of technology distributed linedger technology (DLT) that can be accessed by the public, the existence of utilities or asset support, transparency of ownership and transactions, as well as a methodological based assessment that has been established.

Tokocrypto CEO Calvin Kizana welcomed the update of the list and expressed his support for the steps taken by the Exchange.

He sees this step not only as a form of market supervision, but also as a positive stimulus for the growth of the national crypto industry.

"This is an important effort to maintain market health while ensuring that only credible assets have developing potential that can be traded in Indonesia," Calvin said in a statement quoted Monday, June 30.

Calvin also said that strict but open regulation on market developments is an ideal combination of creating a healthy crypto ecosystem.

"With the entry of new assets that are more relevant and market interest, the potential volume of domestic crypto transactions can increase significantly. This will certainly support overall industrial growth, from the investor side, developer, to crypto business players," he explained.

This more selective list update is expected to make the crypto asset industry in Indonesia develop healthier, more competitive, and able to be a driver of the national digital economy in the long term.