The Indonesian Ulema Council has considered cryptocurrencies haram. They say that the reason why they consider cryptos haram is that cryptos are harmful and contain uncertainties.
The Ulema Council announced at its meeting this week that crypto money is haram because it resembles gambling. They said cryptocurrencies can be bought and sold as commodities if they provide a benefit and comply with Sharia.
More than 200 million Muslims live in Indonesia and it is the largest Muslim country in the world. We are sure that the Ulema Council will definitely change their minds one day.
According to the news from Bloomberg; The statement made by the Ulema Council stated that it does not impose an official restriction on the use of cryptocurrencies. Despite being considered haram, there are an estimated 4.45 million crypto money investors and a crypto currency transaction volume of approximately $ 8.8 billion in the country.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.
