DDHK.ORG - The Fatwa Commission of the Indonesian Ulema Council (MUI) has determined that the use of cryptocurrencies (crypto currency) is illegal. The decision was taken in the VII Ijtima Ulama Fatwa Commission throughout Indonesia.
The consideration is that crypto currencies are considered to contain gharar, dharar, and are contrary to Law (UU) Number 7 of 2011 and Bank Indonesia Regulation Number 17 of 2015.
“Cryptocurrency as a commodity or digital asset is not legal to be traded because it contains gharar, dharar, qimar, and does not meet the syar'i sil'ah requirements (there is a physical form, has value, the exact amount is known, property rights, and can be handed over to the buyer. )," said Chairman of the MUI for Fatwa KH Asrorun Niam Sholeh during a press conference at the closing of the ijtima ulama in Jakarta, Thursday (11/11/2021), as reported by Republika.
Meanwhile, cryptocurrencies are commodities or assets that qualify as sil'ah and have underlyings and have clear benefits that are legitimate to be traded. [DDHKNews]
