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Crypto Is Forbidden For Muslims, Indonesian Sharia Council Rules
Τhe biggest religious council for Muslims in Indonesia has deemed cryptocurrencies like Bitcoin ‘haram’ or forbidden in the country.
The reason is the presence of elements of “uncertainty, wagering, and harm,” said Asrorun Niam Sholeh, the chairman of Indonesian Ulema Council’s Fatwa Commission.
- Parth Dubey
- International Business Times
The ruling raises a challenge to the adoption of cryptocurrency in the world’s biggest Muslim country by population.
The Indonesian Ulema Council, or Majelis Ulama Indonesia (MUI), is responsible for Sharia compliance in the country, and authorities are known to turn to the council for advise on financial matters.
MUI held a…