Religious news is not usually posted here, but this may affect a number of readers.
Followers of the Muslim faith are prohibited from owning or trading cryptocurrency. Indonesia has the world’s largest Muslim population.
This week that country’s National Ulema (Religious) Council ruled that cryptocurrencies are “haram” or banned because of their uncertainty, elements of wagering and harm which goes against the central tenets of the faith.
The NUC is the final arbiter of Shariah law in Indonesia. While it is not a government decree, it may affect the observant population in that country.
In fact, Bloomberg reports that the government has shown some support for the digital asset by “allowing it to be traded alongside commodity futures as an investment option and pushing to set up a crypto-focused exchange by the end of the year.”
Bitcoin is not, however, legal tender in Indonesia.
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