Indonesia’s Religious Leaders Declare Crypto Illegal for Muslims: Report

Indonesia’s Religious Leaders Declare Crypto Illegal for Muslims: Report
Muslims are forbidden from using crypto, Indonesia’s council of religious leaders has declared, Bloomberg reported on Thursday.Crypto is forbidden due to the elements of uncertainty and wagering, Indonesia’s authority on Shariah compliance, the National Ulema Council (MUI), announced following a hearing.Asrorun Niam Soleh, head of religious decrees, added that a crypto could be traded as a commodity if it abides by Shariah law and demonstrates a clear benefit.Indonesia has one of the world’s largest Muslim populations with around 237 million, roughly 12.7% of the world’s total.It was reported earlier this year that Indonesia was planning to tax profits on crypto…