Muslims Cannot Trade Bitcoin in Indonesia as Religious Council Declares Crypto is Haram (translation: forbidden)
Indonesia is yet to show any serious signs of cracking down on cryptocurrencies. But religious leaders have already declared that all operations in the sector are haram.
The National Ulema Council (MUI) has reportedly announced a ban on the use of crypto, citing Shariya law. Even as the Indonesian government has acknowledged crypto as a commodity, it still cannot be legalized under Islamic law.
According to the reports, the head of religious decrees, Asrorun Niam Soleh, stated that the rejection ignites from the thesis that cryptocurrencies are riddled with “uncertainty, wagering, and harm.” ...
The latest announcement comes just a few weeks after the MUI’s East Java branch issued a fatwa against crypto usage. The Islamic group had cited volatility as the primary issue.
Full article Here.
Comments
Post a Comment