The fatwa pointed towards two critical issues with cryptocurrencies that make them illegal as an investment tool as well as a medium of exchange.
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Category: Islam
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Islamic Organization in Indonesia Issues Fatwa Against Cryptocurrency
A provincial branch of one the largest Islamic organizations in Indonesia has declared cryptocurrency “haram,” or forbidden under religious law. The decision came after a “heated discussion” joined by a crypto expert who was invited to explain in detail the practice of using digital coins. Cryptocurrency Deemed ‘Haram’ in Indonesia The local branch of the […]Powered by WPeMatico
Religious Ban on Cryptocurrencies Provokes Social Media Reproach in Ingushetia
A decision by a prominent religious body in Ingushetia to prohibit dealings with cryptocurrency has sparked controversy in the predominantly Muslim Russian republic. Critics have taken to social media to express their disagreements with the ban, pointing out that the treatment of bitcoin in Islamic jurisdictions is not one-sided. Islamic Cleric Explains Reasoning Behind Crypto […]Powered by WPeMatico
New Australian Islamic finance DeFi platform is ‘guided by Sharia’
Islamic finance is not always compatible with DeFi’s focus on risk and yield. A new platform aims to blend the best of both.
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Sharia Compliance in Bitcoin – What It’s All About, and Why Exchanges Like Beldex Seek Muslim Traders
Money is a critical part of everyone’s life, and for the religious it is even viewed as a matter of eternal consequence. While those on the outside may be unaware of the importance finance takes on in circles of faith, these beliefs nonetheless affect and impact the businesses and economies of market actors everywhere, regardless […]
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Bitcoin Continues Making Inroads in Islamic Finance
Exposing more consumers, corporations, and investors to the cryptocurrency industry can be done in multiple ways. One area often overlooked is Islamic finance, even though it can play a major role of importance. The First Islamic Crypto Exchange is an example of what the future may hold for Bitcoin and other cryptocurrencies. Bitcoin and Islamic […]
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Bitcoin in Brief Monday: A Panther’s Moonshot Bet
Bitcoin in Brief today is slanted toward a crypto winter slowly thawing, as Pantera Capital bets on a moonshot price point. Also, the world’s most popular decentralized digital asset has been forked more than a plate of good pasta; there’s a growing list of countries who’re less likely to nab your crypto profits; Yahoo! smashes […]
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Two Turkish Imams Fired for Allegedly Investing in Bitcoin
Two Turkish imams have been fired for possessing bitcoin investments, according to local media reports. Turkey’s religious authorities determined that bitcoin is “not compatible with Islam” in November 2017. Also Read: Bitcoin Mining Training Coming to 30 Cities in India Two Imams Fired for Owning Bitcoin It has been reported that two religious officials in Zonguldak, […]
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