Digital Asset Classification

Modified on Wed, 10 Jul at 4:17 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


For “cryptocurrency”, there are 34 digital assets that are classified into this group; the list is shown in the table below.


Number

Currency of digital asset

Abbreviation


Cardano

ADA


Algorand

ALGO


Cosmos

ATOM


Avalanche

AVAX


Bitcoin Cash

BCH


BNB

BNB


Bitcoin

BTC


Celo

CELO


Cortex

CTXC


Dai

DAI


Dogecoin

DOGE


Polkadot

DOT


Ethereum

ETH


Flow

FLOW


Fantom

FTM


Glimmer

GLMR


Hedera

HBAR


IOST

IOST


Kusama

KSM


Bitkub Coin

KUB


Terra Classic

LUNC


Polygon

MATIC


Moonriver

MOVR


NEAR Protocol

NEAR


Secret

SCRT


Solana

SOL


Celestia

TIA


TRON

TRX


USD Coin

USDC


Tether

USDT


Stellar

XLM


XRP

XRP


Tezos

XTZ


Zilliqa

ZIL

 

For “digital token”, there are 98 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


Aave

AAVE


Arcblock

ABT


Aerodrome

AERO


Aevo

AEVO


Stella

ALPHA


Altlayer

ALT


Ankr

ANKR


ApeCoin

APE


API3

API3


Arbitrum

ARB


Arkham

ARKM


Wrapped Axelar

AXL


Axie Infinity

AXS


Balancer

BAL


Band Protocol

BAND


Basic Attention Token

BAT


Blur

BLUR


Coin

C98


Chiliz

CHZ


Compound

COMP


Curve DAO Token

CRV


Civic

CVC


CyberConnect

CYBER


dYdX

DYDX


Ethena

ENA


Enjin Coin

ENJ


Ethereum Name Service

ENS


ether.fi

ETHFI


Flux

FLUX


Frax Share

FXS


Galxe

GAL


Gala

GALA


Golem

GLM


Gmx

GMX


Gnosis

GNO


The Graph

GRT


GateToken

GT


Hashflow

HFT


SPACE ID

ID


Illuvium

ILV


Immutable X

IMX


Injective

INJ


IQ

IQ


JFIN Coin

JFIN


Joe

JOE


Kava

KAVA


Klaytn

KLAY


Kyber Network

KNC


Lido DAO

LDO


Chainlink

LINK


Livepeer

LPT


Liquity

LQTY


Loopring

LRC


LUKSO

LYX


Decentraland

MANA


MARBLEX

MBX


Maker

MKR


Connext Network

NEXT


Ocean Protocol

OCEAN


Omni Network

OMNI


Ondo

ONDO


Optimism

OP


Osmosis

OSMO


Perpetual Protocol

PERP


Plearn

PLN


Powerledger

POW


BENQI

QI


Quant

QNT


Radiant Capital

 RDNT


RealX Investment Token

REALX


Renzo

REZ


Render Token

RNDR


Ronin

RON


Reserve Rights

RSR


Safe

SAFE


The Sandbox

SAND


SafePal

 SFP


SIX

SIX


Skale

SKL


Status

SNT


Synthetix

SNX


ssv.network

SSV


Stargate Finance

STG


SushiSwap

SUSHI


OriginTrail

TRAC


Tellor

TRB


Trust Wallet Token

TWT


Uma

UMA


Uniswap

UNI


Velodrome Finance

VELO


Worldcoin

WLD


Woo Network

WOO


yearn.finance

YFI


Zentry

ZENT


ZetaChain

ZETA


ZKsync

ZK


0x

ZRX



Remark:

The types and categorizing list of assets mentioned above are as of 31 May 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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