Indonesian Islamic organizations against crypto use

Tarih Council and the Central raised voices against the use of crypto assets and claimed that it is unlawful to use. 

Bitcoin completed its life more than 13 years. After the entry of Bitcoin, many other crypto assets entered this world, just copying and pasting the basic concept with different marketing strategies. Now we are in that Era of the Bitcoin revolution, where Bitcoin is integrating the whole world without any restriction of the category/community/type/location of a person. However illicit use cases can be seen, where bad actors are using in unlawful ways but still these cases are not more than fiat/cash association in illegal activities like drug trafficking and other illicit activities.

However, the entry of Bitcoin in the world was based on equality among the population of the whole world, without any classification. But here some people are trying to categorize the world to not to use Bitcoin or other crypto assets. 

Recently CNBC published a report on Muhammadiyah, Executive at Tarjih Council and the Central Tajdid. According to the report, The executive of this Islamic organization published a fatwa (guidelines) to all the people, which are in the Islamic religion. According to the fatwa of this Islamic organization, the use of the crypto is haraam (unlawful). 

Fatwah also stated that cryptocurrencies use cases are not in compliance with the Sharia tenets for the barter system, So crypto assets can’t be used in the medium of the exchanges i.e crypto can’t be used as currency or legal tender. 

Here fatwah by this Islamic organization is not a judgment or order of any government agency. It is just basically an opinion and suggestion to all the people, which belong to the Islam religion, not to use crypto assets in any way or the medium. 

This is not the first time when any Islamic organization published its fatwah on crypto as unlawful but also before this in November 2021 National Ulema Council organization declared crypto as haraam

Read also: Twitter’ new hiring for its crypto division: DAOs