Indonesia’s Islamic Authority Declares Cryptocurrency Haram, Forbidden for Muslims

Indonesia's Islamic Authority Declares Cryptocurrency Haram, Forbidden for MuslimsIndonesia’s top Islamic body, the country’s authority on Shariah compliance, has reportedly declared cryptocurrency haram, forbidden for Muslims under Islamic law. The Indonesian Ulema Council explained that crypto has elements of uncertainty, wagering, and harm. Cryptocurrency Is Forbidden for Muslims Under Islamic Law in Indonesia Indonesia’s Ulema Council (Majelis Ulama Indonesia or MUI), the country’s […]

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Islamic Organization in Indonesia Issues Fatwa Against Cryptocurrency

Islamic Organization in Indonesia Issues Fatwa Against CryptocurrencyA 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 […]

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Religious Ban on Cryptocurrencies Provokes Social Media Reproach in Ingushetia

Religious Ban on Cryptocurrencies Provokes Social Media Reproach in IngushetiaA 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 […]

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$26K Worth of Bitcoin Sent to Controversial Activist Tommy Robinson

$26K Worth of Bitcoin Sent to Controversial Activist Tommy RobinsonThe controversial political activist and independent journalist Tommy Robinson was sent £20,000 ($26K USD) worth of bitcoin, according to local reports, by supporters to help cover legal costs. Mr. Robinson was arrested two months ago for allegedly violating a contempt of court order. He was sent to a local jail, and recently the court found fault […]

The post $26K Worth of Bitcoin Sent to Controversial Activist Tommy Robinson appeared first on Bitcoin News.

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Cryptocurrency Infused Islamic Microfinance Fund Launches in Central Java

Cryptocurrency Infused Islamic Microfinance Fund Launches in Central JavaThis week the firm Blossom Finance announced the open enrollment for an Islamic microfinance fund that will accept multiple cryptocurrencies such as BCH, ETH, and BTC. Investors will focus on socially responsible opportunities, and receive profit sharing from Blossom’s network of microfinance partners in the province of Central Java, Indonesia through a partnership with the […]

The post Cryptocurrency Infused Islamic Microfinance Fund Launches in Central Java appeared first on Bitcoin News.

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Research Paper Declares Bitcoin Compliant With Shariah Law

Research Paper Declares Bitcoin Compliant With Shariah LawBitcoin and cryptocurrencies are intriguing because they are very different from the traditional financial systems we use today. One particular subject people have pondered is whether or not bitcoin complies with the religious law that forms a part of Islamic tradition — otherwise known as Shariah Law. This week a microfinance firm based in Indonesia, Blossom Finance, […]

The post Research Paper Declares Bitcoin Compliant With Shariah Law appeared first on Bitcoin News.

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