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While cryptocurrency is growing steadily in popularity, Indonesia’s council of religious leaders have announced that crypto and digital assets are banned for Muslims. Indonesia holds the largest Muslim population of any country in the world, and the National Ulema Council is the religious authority that makes decisions based on Shariah law. In their deliberation and consultation with experts, they determined that crypto, with its rollercoaster surges and drops, is akin to wagering or gambling and the uncertainty can lead to real harm. For that, the council forbid Muslims from trading in digital assets and cryptocurrencies. The head of religious decrees […]

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