INDONESIA ULEMA COUNCIL BOARD’S RULING ON HARAM CRYPTO MAY BE CHALLENGED BY OTHER SCHOLARS
November 2nd, 2021
On November 11 (2021), Indonesia's National Ulema Council (MUI), the country's top Muslim clerical body, ruled that "using" cryptocurrency is haram, due to its "uncertainty" and "potential for wagering and harm".
The ruling, which was not accompanied by any public clarification of MUI's position on what constitutes "using" cryptocurrency, sent ripples through the Islamic world and reignited discussions about the role of the rapidly expanding digital assets sector in Sharia-compliant finance.
Whether or not cryptocurrency, which is essentially a means of ...
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