Indonesia’s Commodity Futures Trading Supervisory Body (Badan Pengawas Perdagangan Berjangka Komoditi or “Bappebti”) has issued the long-awaited list of cryptoassets that can be legally traded in Indonesia.

This list of approved cryptoassets is contained in Bappebti Regulation No. 7 of 2020 regarding the Stipulation of the List of Cryptoassets that Are Allowed to Be Traded in the Cryptoasset Physical Market (“Bappebti Reg. 7/2020”).

Bappebti Reg. 7/2020 was issued and took effect on December 17, 2020, but was only made public in mid-January 2021. Its main feature is the list of 229 cryptoassets that can legally be traded in Indonesia.

This is an implementing regulation for Bappebti Regulation No. 5 of 2019 regarding Technical Provisions for the Organization of the Cryptoasset Physical Market on the Futures Exchange, as lastly amended by Bappebti Regulation No. 3 of 2020 regarding the Third Amendment of Bappebti Regulation No. 5 of 2019.


List of Legally Traded Cryptoassets

Bappebti Reg. 7/2020 contains a list of 229 cryptoassets that have been vetted by Bappebti to provide more comfort to Indonesians interested in trading cryptoassets.

What this regulation means in practical terms is that prospective cryptoassets physical traders (calon pedagang fisik aset kripto) and cryptoassets  physical traders (pedagang fisik aset kripto), as platforms where consumers can buy and sell cryptoassets, can legally only trade those cryptoassets included in the list in this regulation.


Off-List Cryptoassets

Cryptoasset traders as mentioned above that have been trading cryptoassets not included in the approved list will have 30 days since the issuance of Bappebti Reg. 7/2020 to stop the trading of such off-list crypto assets. During this 30-day period, the traders will need to ask their customers to liquidate their off-list cryptoassets or transfer such cryptoassets to the customers’ cryptoasset wallets. The traders shall continue to responsible for the cryptoassets until such time as the customers withdraw the cryptoassets from the traders.

Bappebti Reg. 7/2020 indicates that the current list of 229 cryptoassets is preliminary in nature and cryptoassets could be added to or removed from the list. For any cryptosset removed from the approved list the 30-day period as described above will be applicable.

Amendment to List of Cryptoassets

A cryptoassets physical trader has the right to submit a proposal to add or remove a cryptoasset from the list of cryptoassets that can be legally traded. Such proposal is to be submitted to Bappebti through the Cryptoassets Futures Exchange (Bursa Berjangka Aset Kripto). The proposal will be reviewed by the Cryptoaassets Futures Exchange and the Cryptoassets Committee (Komite Aset Kripto), neither of which have been established as of this writing. Once the review process is completed, the head of Bappebti may stipulate an addition to or removal from the list of legally traded cryptoassets.

Regardless of any such proposals from cryptoassets physical traders, the Cryptoassets Futures Exchange and the Cryptoassets Committee are obligated to evaluate the list at least once a year and report the results to Bappebti.

If the Cryptoassets Futures Exchange and the Cryptoassets Committee have still not been established then the review of the cryptoassets list and submitted proposals will be handled by Bappebti, with input from business players in the cryptoassets sector.


Obligations and Guidelines

The highlight of Bappebti Reg. 7/2020 is the list of cryptoassets that can be legally traded in Indonesia. But it also stipulates the following obligations for cryptoassets physical traders:

  1. formulate standard operating procedures to monitor and assess the cryptoassets being traded by the cryptoassets physical trader;
  2. independently and actively monitor and asses the cryptoassets being traded by the cryptoassets physical trader;
  3. actively submit the results of the monitoring and assessment of traded cryptoassets to Bappebti, the Cryptoassets Futures Exchange and the Cryptoassets Committee; and
  4. independently implement restrictions on cryptoassets that do not meet the risk criteria set out by the trader.

Further, Bappebti Reg. 7/2020 provides a guideline containing criteria to assess whether a cryptoasset may be deemed as qualified for inclusion on the list of cryptoassets that can be legally traded in Indonesia.


List of Cryptoassets That Can Be Legally Traded in Indonesia

Bappebti has stipulated that the following 229 cryptoassets can be legally traded in Indonesia:

1.         Bitcoin 81.        Verge 161.      Storm
2.         Ethereum 82.        Pax gold 162.      Vertcoin
3.         Tether 83.        Matic network 163.      Ttc
4.         Xrp/ripple 84.        Kava 164.      Metadium
5.         Bitcoin cash 85.        Komodo 165.      Pumapay
6.         Binance coin 86.        Steem 166.      Nav coin
7.         Polkadot 87.        Aelf 167.      Dmarket
8.         Chainlink 88.        Fantom 168.      Spendcoin
9.         Lightcoin 89.        Horizen 169.      Tael
10.      Bitcoin sv 90.        Ardor 170.      Burst
11.      Litecoin 91.        Hive 171.      Gifto
12. coin 92.        Enigma 172.      Sentinel protocol
13.      Usd coin 93.        V. Systems 173.      Quantum resistant ledger
14.      Eos 94.        Z coin 174.      Digix gold token
15.      Tron 95.        Wax 175.      Blocknet
16.      Cardano 96.        Stratis 176.      District0x
17.      Tezos 97.        Ankr 177.      Propy
18.      Stellar 98.        Ark 178.      Eminer
19.      Neo 99.        Syscoin 179.      Ost
20.      Nem 100.      Power ledger 180.      Steamdollar
21.      Cosmos 101.      Stasis euro 181.      Particl
22.      Wrapped bitcoin 102.      Harmony 182.      Data
23.      Iota 103.      Pundi x 183.      Sirinlabs
24.      Vechain 104. 184.      Tokenomy
25.      Dash 105.      Gxchain 185.      Digitalnote
26.      Ehtereum classic 106.      Coti 186.      Abyss token
27. 107.      Origin protokol 187.      Cake
28.      Theta 108.      Xinfin network 188.      Veriblock
29.      Binance usd 109.      Btu protocol 189.      Hydro
30.      Omg network 110.      Dad 190.      Viberate
31.      Maker 111.      Orion protocol 191.      Rupiahtoken
32.      Ontology 112.      Cortex 192.      Vexanium
33.      Synthetix network token 113.      Sandbox 193.      Global social chain
34.      Uma 114.      Hash gard 194.      Ambrosus
35.      Uniswap 115.      Bora 195.      Refereum
36.      Dai 116.      Waltonchain 196.      Crown
37.      Doge coin 117.      Wazirx 197.      Daex
38.      Algorand 118.      Polymath 198.      Cryptaur
39.      True usd 119.      Request 199.      Spacechain
40.      Bittorrent 120.      Pivx 200.      Expanse
41.      Compound 121.      Coti 201.      Sumokoin
42.      0x 122.      Fusion 202.      Honest
43.      Basic attention token 123.      Dent 203.      Auroracoin
44.      Kusama 124.      Airswap 204.      Vodi x
45.      Ok blockchain 125.      Civic 205.      Smartshare
46.      Waves 126.      Metal 206.      Exclusive
47.      Digibyte 127.      Standard token protokol 207.      Cosmo coin
48.      Icon 128.      Mainframe 208.      Aidcoin
49.      Qtum 129.      12ships 209.      Adtoken
50.      Paxos standard 130.      Lambda 210.      Play game
51.      Ren protocol 131.      Function x 211.      Lunacoin
52.      Loopring 132.      Cred 212.      Staker
53.      Ampleforth 133.      Ignis 213.      Klaytn
54.      Zilliqa 134.      Adex 214.      Flamingo
55.      Kyber network 135.      Moviebloc 215.      Wing
56.      Augur 136.      Groestlcoin 216.      Bella protocol
57.      Lisk 137.      Factom 217.      Mil.k
58.      Decred 138.      Nexus 218.      Bakery token
59.      Bitshares 139.      Lbry credits 219.      Lyfe
60.      Bitcoin gold 140.      Gemini dollar 220.      Ionomy limited
61.      Aragon 141.      Einsteinium 221.      Smart chain solution
62.      Elrond 142.      Vidycoin 222.      Kryptovit
63.      Enjin coin 143.      Nkn 223.      Eautocoin
64.      Band protocol 144.      Go chain 224.      Quantum
65.      Terra 145.      Cream finance 225.      Bankex
66.      Balancer 146.      Medibloc 226.      Chaincoin
67.      Nano 147.      Fio protocol 227.      Hara coin
68.      Swipe 148.      Nxt 228.      Venus protocol
69.      Solana 149.      Aergo 229.      Alpha finance
70.      Bitcoin diamond 150.      High performance blockchain
71. 151.      Cartesi
72.      Decentraland 152.      Tenx
73.      Avalanche 153.      Siacoin
74.      Numeraire 154.      Raven coin
75.      Golem 155.      Status
76.      Quant 156.      Storj
77.      Bytom 157.      Electroneum (etn)
78.      Serum 158.      Aurora
79.      Iexec rlc 159.      Orbs
80.      Just 160.      Loom network



For more information, please contact:

Harry Kuswara SSEK IHC

Harry Kuswara, Associate,


This publication is intended for informational purposes only and does not constitute legal advice. Any reliance on the material contained herein is at the user’s own risk. All SSEK publications are copyrighted and may not be reproduced without the express written consent of SSEK.


Tags: Cryptoassets, Indonesia
Related Articles by Firm
Indonesian government imposes VAT on imported digital goods and services
The tax particularly targets intangible goods and services provided by foreign tech companies that lack a physical presence in Indonesia.
Indonesia’s New Negative Investment List
Presidential Regulation No. 44 of 2016 regarding the List of Business Fields That Are Closed and Business Fields That Are Conditionally Open...
Revisiting the Indonesian Language Law
Indonesia’s Law No. 24 of 2009 regarding the National Flag, Language, Emblem and Anthem (the Language Law) was very likely ...
Indonesia Update
New Body Set Up to Resolve Disputes in the Construction Sector; and a Change to the Mediation Process ...
Indonesia’s Anti-Monopoly Law: Changes Ahead?
Since its enactment in 1999, Indonesia's Anti-Monopoly Law has never been amended. The New Anti-Monopoly Law has been prioritized for enactment by the Government of Indonesia. Here's a look at some proposed major changes.
Non-compete agreements and protecting confidential information
Indonesian labour and employment laws do not expressly impose or regulate non-competition obligations ...
Indonesian regulatory framework for real estate investment funds
In late 2015, the Indonesian Minister of Finance issued Regulation No. 200/PMK.03/2015 regarding Tax Treatment of Taxpayers and Taxable Entrepreneurs ...
Indonesia Widens Door to Foreign Investment
Indonesia released its tenth economic policy package on February 12, 2016, with a focus on boosting foreign direct investment and protecting small and medium enterprises and cooperatives.
Indonesian Import License Regulations
The Indonesian Minister of Trade issued two new regulations which amended importation guidelines effective 1 January 2016.
Ownership of homes or residences by foreigners in Indonesia
Indonesia issued Government Regulation No. 103 of 2015 regarding the Ownership of Homes or Residences by Foreigners Residing in Indonesia ...
When employees leave: non-compete agreements and protecting confidential information
Indonesian labour and employment laws do not expressly impose or regulate non-competition obligations of employees with the exception of the Chief Representative ...
New regulations bring big changes to the Indonesian manpower sector
Two recently released regulations have introduced important changes to the Indonesian manpower sector. While the changes should generally be welcomed by the business ...
Update: Guide to Background Checks in Indonesia
Background checks on employees are not expressly regulated by Indonesian employment laws but certain background checks are subject to the applicant or employee's consent.
Foreign investment restrictions in Indonesia
Restrictions on foreign shareholders in Indonesia are set out in the most recent Negative Investment List, contained in Presidential ...
New Manpower Regulation Eliminates Controversial Work Permit Requirements in Indonesia
Indonesia eases requirements for work permits of expatriates working in the country.
Establishing a presence from abroad
The most common option for an overseas company as a foreign investor to establish a presence in Indonesia is by setting up a limited liability company (Perseroan Terbatas or PT) with foreign ownership ...
Regulatory framework for insurance business
The main legislation for insurance and reinsurance business in Indonesia is the newly enacted Insurance Law, issued on October 17, 2014. The new Insurance Law ...
Indonesia: New Manpower Regulation
Foreign domiciled directors and commissioners must have Indonesian work permit ...
Indonesian Rules on E-Signatures
E-signatures in Indonesia are regulated by Law No. 11 of 2008 regarding electronic information and transactions (Law No. 11/2008) and Government Regulation No. 82 of 2012 regarding the implementation ...
Negative investment list vs. cabotage principle
In furtherance of Indonesia’s commitment to welcome the implementation of the ASEAN Economic Community (AEC) in 2015, ...
Local Authority Curbed in Indonesian Mining Sector
The Indonesian Government appears to be getting serious about stripping local authorities of the power to issue mining licenses.
Mandatory use of Rupiah in Indonesia
Indonesia’s central bank, Bank Indonesia (BI), recently issued BI Regulation No. 17/3/PBI/2015 regarding the mandatory use …
Indonesia: New Regulation on Public-Private Partnerships (PPP)
Public-private partnerships (“PPPs”) interest infrastructure investors in Indonesia for a number of reasons ...
Compliance road map for companies
Compliance is an important issue for foreign investment companies doing business in Indonesia. As international organisations, foreign investment companies are not only …
Food export regulations and licences
Export activities in Indonesia can be carried out by individuals, institutions and business entities. Export goods are classified as free export goods, which are goods that have no restrictions or prohibitions on …
Franchising rules and regulations
With a population of over 250 million, Indonesia is an attractive country for investors, particularly those interested in the distribution, retail and franchise sectors. …
Indonesia Employment Law: Quarterly Review
Update for the 4th quarter of 2014 including: Increased Protection for Outsourced Workers; New Rules on Hiring Expatriates; and Regulations for those Employed in Oil and Natural Gas Business Activities...
New Indonesian Geothermal Energy Law
Indonesia is one of the world’s most volcanically active countries and among the countries with the greatest geothermal energy potential. Dwindling production of traditional energy …
Foreign investment in Indonesian real estate
Indonesia’s Agrarian Law provides that foreigners can only acquire right to use (hak pakai) title for land if they reside in Indonesia. If foreign investors wish to engage in …
Employment Law: Hiring expats, holidays and more
The Indonesian Government has issued a Regulation on the employment of foreign workers and the implementation of education and training programs for Indonesian companion employees. Presidential …
New Negative List Introduces Changes to Health Investment in Indonesia
The Indonesian Government has released a new list of business fields that are closed to investment and business fields that are conditionally open to investment …
Indonesian-language label requirements
The Minister of Trade has updated Regulation No. 67/M-DAG/PER/11/2013 regarding the Obligation to Affix Indonesian-Language Labels on Goods with the issuance of Minister of Trade Regulation No. 10/M-DAG/PER/1/2014 …
Corporate liability for corruption
Anti-corruption compliance is rightly a focus of companies operating in Indonesia. One of the more interesting questions for such companies, particularly foreign investment companies, is whether the company …
Indonesia’s New Negative Investment List
The Indonesian Government has issued a New Negative List that determines which business fields are open, fully or partially with conditions, to investment, including foreign investment. The New Negative List, issued …
New Trade Law and its effect on business
Indonesia’s House of Representatives (Dewan Perwakilan Rakyat or DPR) recently passed into law a long-awaited trade bill. The new Trade Law will act as an underlying regulation for other trade-related …
Processing minerals for export now mandatory
After a long and contentious discussion involving many interested parties, the Government of Indonesia issued a regulation that bans the …
Indonesia’s Language Law and business agreements
In a landmark decision on June 20th, 2013, the West Jakarta District Court annulled a Loan Agreement because it was executed in English …
Indonesian Court Annuls Loan Agreement on Language Law: What Does It Mean for Your Agreements?
In a landmark decision on June 20, 2013, the West Jakarta District Court annulled a Loan Agreement entered into between a local borrower and an offshore lender because it was executed in English only ...
Keeping up with shifting foreign investment rules
Less than six months after issuing new investment guidelines and procedures, Indonesia’s Capital Investment Coordinating Board (BKPM) has …
New divestment rules for mining companies
On September 13th, 2013, the Minister of Energy and Mineral Resources (MEMR) issued MEMR Regulation No. 27 of 2013 regarding …
New import rules for cell phones in Indonesia
Indonesia’s Minister of Trade has issued a new regulation that specifically governs the importation of, among other items, cellular telephones …
BKPM introduces new investment rules in Indonesia
Indonesia’s Capital Investment Coordinating Board (BKPM) has issued BKPM Regulation No. 5 of 2013 regarding Guidelines and Procedures …
Related Articles
Related Articles by Jurisdiction
Indonesia Widens Door to Foreign Investment
Indonesia released its tenth economic policy package on February 12, 2016, with a focus on boosting foreign direct investment and protecting small and medium enterprises and cooperatives.
New rules for Indonesia’s banking industry
Bank Indonesia, the central bank, has issued a flurry of recent regulations aimed at strengthening the country’s banking system and …
Latest Articles