The fatwa pointed towards two basic issues with digital currencies that make them unlawful as a speculation apparatus just as a mechanism of trade.
The Tarjih Council and the Central Executive Tajdid of Muhammadiyah, one of the biggest non-government Islamic associations in Indonesia, gave another fatwa against cryptographic money use, considering it haram, or unlawful, for Muslims.
Muhammadiyah turned into the third Indonesian Islamic association to give a fatwa against digital currency use. Prior, in November 2021, the Indonesian Ulema Council (MUI), the most elevated administrative body in the nation pronounced crypto haram as a value-based instrument. Nonetheless, it noticed that crypto resources can be utilized as a venture instrument assuming they keep sharia principles. In October 2021, another major Islamic association the Nahdlatul Ulama (NU) likewise considered crypto haram because of its theoretical nature.
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