Indonesia has recognized cryptocurrency as a banned asset for Muslims
The decision was made by the National Council of Religious Leaders of this country
12.11.2021 - 09:40
434
1 min
0
What’s new? According to Bloomberg, the National Ulema Council of Indonesia has banned Muslims from using bitcoin and other cryptocurrencies throughout the country.
What is the reason for the ban? According to the organization’s representatives, cryptocurrencies are recognized as a sin because they may be compared to betting games. The reason is the uncertainty of value and legal status. In addition, cryptocurrency is often used to defraud users and cheat, which is against Islamic law.
The head of the Council, Asrorun Niam Soleh, stressed that the decision may be revised in the future. This will happen if bitcoin or any other asset in question complies with the main principles of Shariah.
Useful material?
Telegram 
Twitter Market
Due to supply shortages, the asset’s pre-market exchange rate was climbing above $1000
Dec 16, 2024
Incidents
Reports about the hacking of the exchange with calls to withdraw assets began to spread on December 13
Dec 13, 2024
Crypto regulations
Stablecoins from issuer Circle will not be affected by the changes
Dec 12, 2024
Crypto regulations
The platform will launch after meeting the preconditions of the local exchange authority
Dec 9, 2024
Market
The $1,1 billion figure was reached after the bitcoin correction
Dec 6, 2024
Crypto regulations
By early January, all open positions and loans of local users will be closed and repaid automatically
Dec 5, 2024
Cryptocurrency rates
-
Bitcoin
$95 260
BTC
-1.19%
-
Ethereum
$3 294.13
ETH
-1.23%
-
Ripple
$2.17
XRP
-2.66%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Dogecoin
$0.311723
DOGE
-0.58%
-
Cardano
$0.881108
ADA
-1.14%
-
Stellar XLM
$0.353028
XLM
-0.47%
-
Polkadot
$6.87
DOT
-1.31%
-
Bitcoin Cash
$440.15
BCH
-2.33%
-
Litecoin
$101.92
LTC
+2.1%