Bitcoin has been declared haram by Indonesia’s national Islamic council, according to reports.

  • The National Ulema Council, Indonesia’s top Islamic scholarly body, has reportedly found cryptocurrencies like Bitcoin to be haram, or forbidden, by the tenets of Islam.
  • The MIU discussed Bitcoin as part of the Ulama Fatwa Commission, which is designed to address some of Indonesia’s biggest social, political, economic, and legal issues through the lens of Islamic law.
  • The council could deter Muslims from investing in crypto and make local institutions reconsider issuing crypto assets.
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