A provincial branch of one the largest Islamic organizations in Indonesia has declared cryptocurrency “haram,” or forbidden under religious law. The decision came after a “heated discussion” joined by a crypto expert who was invited to explain in detail the practice of using digital coins. Cryptocurrency Deemed ‘Haram’ in Indonesia The local branch of the Indonesian religious organization Nahdlatul Ulama in East Java has recently issued a fatwa on the status of cryptocurrencies under Islamic law. According to the nonbinding opinion, digital currencies secured by cryptography and used as a transaction instrument are to be considered “haram,” which means forbidden. The decision came as a result of “bahtsul masail,” a discussion held by the organization on Sunday, Oct. 24, the Indonesian news portal Tempo reported. Members involved in the debate, which the article describes as “dynamic” and “heated,” concluded that the use of cryptocurrency could undermine the legality of financial t
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