Digital Asset Classification

Modified on Fri, 08 Mar 2024 at 02:15 PM

As the Digital Assets Act of the Securities and Exchange Commission of Thailand (SEC) categorized and divided digital assets into 2 categories according to the asset consideration guidelines under the Digital Asset Act, Bitkub Exchange, therefore, classifies digital assets provided on its exchange into 2 categories: cryptocurrency and digital token, to be per the SEC guidelines. The details are as follows:

 

Definition 

  • Cryptocurrency
    Refers to an electronic data unit that is created on an electronic system or network to serve as a medium for exchanging products, services, or other rights, or to trade between digital assets. Cryptocurrency also includes other electronic data units as specified by the SEC.
  • Digital token
    Refers to an electronic data unit that is created on an electronic system or network for the following purposes:
    - To determine the rights of a person to invest in a project or a business,
    - To determine the rights of a person to acquire products, services, or other specified rights as agreed by the token issuer and the token holder as well as other rights specified by the SEC.


The Differences between Cryptocurrency and Digital Tokens

Cryptocurrency and digital tokens are different in terms of usage and properties of the coin/token as stated below.

  • Cryptocurrency can be used as a medium for exchanging products, services, or other rights as agreed by the token issuer and the token holders without defining the rights to the assets.
  • Digital tokens can be used to define the rights of a holder including rights of a person to participate or invest in a project or business (such as to receive dividends, joint ventures, etc.), rights to acquire products, services, or other specific rights in the future (such as rights to access services provided by an unfinished business/platform, etc.), and rights to acquire products, services, or other specific rights which a person can use their right immediately.


Classification of Digital Assets on Bitkub Exchange

There are 35 digital assets that are classified as “cryptocurrency”; the list is shown in the table below.

 

Number

Currency of digital asset

Abbreviation

1

Cardano

ADA

2

Algorand

ALGO

3

Cosmos

ATOM

4

Avalanche

AVAX

5

Bitcoin Cash

BCH

6

BNB

BNB

7

Bitcoin

BTC

8

Celo

CELO

9

Cortex

CTXC

10

Dai

DAI

11

Dogecoin

DOGE

12

Polkadot

DOT

13

Ethereum

ETH

14
Flow
FLOW
15

Fantom

FTM

16
Glimmer
GLMR
17

Hedera

HBAR

18

IOST

IOST

19

Kusama

KSM

20

Bitkub Coin

KUB

21

Terra Classic

LUNC

22

Polygon

MATIC

23
Moonriver
MOVR
24

NEAR Protocol

NEAR

25

Secret

SCRT

26

Solana

SOL

27
Celestia
TIA
28

TRON

TRX

29

USD Coin

USDC

30

Tether

USDT

31

Wancoin

WAN (DE*)

32

Stellar

XLM

33

XRP

XRP

34

Tezos

XTZ

35

Zilliqa

ZIL

 

For “digital token”, there are 75 digital assets that are classified into this group; the list is shown in the table below.


Number

Currency of digital asset

Abbreviation

1

1inch Network

1INCH

2

Aave

AAVE

3

Arcblock

ABT

4

Stella

ALPHA

5Altlayer
ALT
6
AnkrANKR
7

ApeCoin

APE

8
Arbitrum
ARB
9

Wrapped Axelar

AXL

10

Axie Infinity

AXS

11

Balancer

BAL

12

Band Protocol

BAND

13

Basic Attention Token

BAT

14
BlurBLUR
15CoinC98
16

Chiliz

CHZ

17

Compound

COMP

18

Curve DAO Token

CRV

19

Civic

CVC

20
CyberConnectCYBER
21

dYdX

DYDX

22

Enjin Coin

ENJ

23

Ethereum Name Service

ENS

24FluxFLUX
25
Frax Share
FXS
26

Galxe

GAL

27

Gala

GALA

28

GuildFi

GF

29

Golem

GLM

30
GmxGMX
31
GnosisGNO
32

The Graph

GRT

33

GateToken

GT

34
Hashflow
HFT
35
SPACE IDID
36

Illuvium

ILV

37

Immutable X

IMX

38Injective
INJ
39

JFIN Coin

JFIN

40

Kyber Network

KNC

41
JoeJOE
42

Chainlink

LINK

43

Lido DAO

LDO

44

Loopring

LRC

45
Liquity
LQTY
46

LUKSO

LYXe

47

Decentraland

MANA

48

Maker

MKR

49Connext NetworkNEXT
50

Ocean Protocol

OCEAN

51

OMG Network

OMG (DE*)

52Ondo
ONDO
53

Optimism

OP

54
Perpetual Protocol
PERP
55Plearn
PLN
56

Powerledger

POW

57QuantQNT
58
Radiant Capital
 RDNT
59
RealX Investment TokenREALX
60
Render Token
RNDR
61

The Sandbox

SAND

62
SafePal
 SFP
63

SIX

SIX

64

Status

SNT

65

Synthetix

SNX

66

Stargate Finance

STG

67

SushiSwap

SUSHI

68
UmaUMA
69

Uniswap

UNI

70
Velodrome Finance
VELO
71
Worldcoin
WLD
72
Woo Network
WOO
73

yearn.finance

YFI

74ZetaChainZETA
75

0x

ZRX

 

Remark:

The types and categorizing list of assets mentioned above are as of 8 March 2024 and are subject to change should there be any updates in the future according to the definitions specified in the Digital Asset Act on asset characteristics consideration guidelines by the SEC.


* DE (Delist) represents a cease of digital asset trading before delisting the asset from the exchange within a given period. (Learn more about Warning Signs here.)

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