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Islamic Organization in Indonesia Issues Fatwa Against Cryptocurrency

Technology Manias – EᐯEᖇYTᕼIᑎG YOᑌ ᑎEEᗪ IᑎᗪEEᗪ

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 Indonesian religious organization Nahdlatul Ulama in East Java has recently issued a fatwa on the status of cryptocurrencies under Islamic law. According to the nonbinding opinion, digital currencies secured by cryptography and used as a…

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