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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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