Bitcoin Forum

In the Moslem Countries like Saudi Arabia, Qatar, United Arab Emirates even Brunei Darussalam etc were enacted Islamic Economy System based on sharia. Is It Possible that The Moslem Countries can accept the cryptocurrencies system in their economic system? What's your opinion?

It is not only possible but a couple of months ago there was an article written about cryptos in regards to our Muslim friends. Read more: https://www.independent.co.uk/life-style/gadgets-and-tech/news/bitcoin-islamic-law-muslims-cryptocurrency-market-permissible-sharia-news-price-surge-a8302761.html

If there is another arab spring which produces widespread independence movements in middle eastern nations, it is possible existing banking systems could be overthrown as people embraced crypto currencies in an attempt to find alternative ways of doing things.

To a degree, middle eastern nations appear to be run by mullahs and religious clerics. I don't know if there is anyone with authority in the middle eastern world who would be pro bitcoin, that other arabs or muslims would listen to.

Middle eastern leaders tend to repress education and information on topics like crypto currencies. If there was a bitcoin following in the middle east it would likely be a small demographic.

Your posted question is bit sensitive to answer boldly, but, lets try to be liberal on the issue, lets not generalized but instead an objective opinion would be more safe.
The entry of crypto currency into the market does not indicate that a selected business investor are only accepted in this digital transaction, with emphasis on Christian or none Christian, the Eastern community wither they like or not, would be affected by the growing numbers of investors coming in into the Crypto currency Digital Transaction, in fact there some business financial community are looking into the Digital Transaction on Crypto in Dubai, United Arab Emirates, but no specific result yet. Let just hope that they will look into what benefits they can have from Crypto Currency market trading.

Just asking is there any law that preventing our Muslim Brothers to use any cryptocurrencies? Cause since the beginning of my journey to crypto world I've never seen or even heard about preventing them to use cryptocurrencies. They can use it as long as they want unless it is banned in there countries.

i agree. stating that those countries you have elaborated are from the east region, doesn't generalized that muslims are against crypto, let's not be bias around here, religions doesn't matter when it comes to crypto, anyone can use it freely if they just want to. technically when it comes to economic growth which includes crypto in general, doesn't really emphasize what's your religion anyway. let us just support crypto the way it is now without further discrimination, besides we all benefit to what it offers to us.

There are some people of the thoughts or scholars that says Muslims should stay away from crypto. That is why you can't hear infos about crypto currencies in Saudi Arabia. Only in UAE crypto is accepted, I guess there are many races there and some are not Muslims that is why it is okay.

If it is pofitable ecnomic usecase for the country, why wouldnt musleum countries accept cryptos.

Muslims accept transactions by using cryptocurrency, Muslims have no problem with this, in their religious rules, it is not forbidden, they will gladly accept the crypto.

I think if you're asking them, then they're all for it. For one thing almost all of the arab countries don't have taxes included on their goods and services. Crytpo currencies do just that. Besides the arab nation, much like any other nation, would like first dibs on new technology or ways to improve their economy. Besides, arab or no, people want money.

I am a Muslim and the citizens here are the majority of Muslims and all goes well. no problem as long as cryptocurrency does not conflict with holy book al quran.

Why not?They can have cryptocurrency system as long their government allows it.Its just same as other countries.Whether what religion you are everyone is welcome in crypto world.The only problem if the government accept it.

looking at economic developments in Muslim countries I think cryptocurrencies can be accepted by the country, while not in use for crime by users in that country.
because I know so much of the benefits of crypto for economic development so there is no problem as far as I know.

Yes it's high very likely that the arabic world adopt cryptocurrency as this latter is not forbidden in Islam which leaves alot of arab people start using cryptocurrency like Mr.Everybody.However banks are still everywhere in the world which may still be considered a challenge for cryptocurrency adoption even in the arabic world.

There are still many countries that are base on sharia.

And in terms of Islamic Shari'ah law of cryptocurrency is included in the Islamic Shari'a, there is no cryptocurrency system that is contrary to the Islamic Shari'a law. For the payment system, cryptocurrency is the same thing with other tools (money), because basically in the process of transactions governed by Islam it depends on the seller and buyer, the buyer is free to determine the means of payment used so that there is agreement.

Likewise, cryptocurrency can be used as a place of investing and trading, Islam has set how to trade and invest and my opinion cryptocurrency is feasible to serve as investment and trading. So, all the rules that exist in cryptocurrency is feasible to be adopted by countries that have Islamic sharia law.

I m not sure but perhaps in the future this will be possible. Not only muslim countries don't approve it now. I don't think that there is 0 probability but it won't happen too quickly. time is needed and we will wait  for it

I don't understand what is wrong with using the bitcoins,it is not a crime or illegal thing the value came from demand like in all other things so it can be used by anyone irrespective of the religion.And also I have read somewhere that someone wrote an article the bitcoin is not against the muslim law so it can be used by muslim too.

even in english there is mosque that accept bitcoin for charity fund.and i don't see negative effect from bitcoin that make bitcoin restricted in muclim country

It's not like the islamic's countries economical system is being connected, it's not like the european union, they are separated, so I see that unlikely to happen that all the islamic countries will start seeing bitcoin a currency all together.
It's more likely that if we take a random islamic country, the chances of it to accept crypto is much higher then a different country because the government is much weaker in such countries and usually the citizens are searching for alternatives for the traditional currencies.

We should be focusing to get our system stronger and to make the network much more stable, we shouldn't be focusing on fitting ourselves to specific group of countries.'

Why not? It is just another way of payments or locking money, for me there is no doubt that if the goverment wants it could make it possible to use them.

Majority of moslem countries run interest free loan meanwhile adoption of cryptocurrencies might be against their religious doctrine as a matter of fact Cryptos doesn't have a fixed value appreciation in its values with time might be considered as a ponzi scheme which negates Islamic principle

Like what OP said they are using sharia law with their economy so that can be a connection why there's a news that recently said they can now use bitcoin.

https://www.ccn.com/bitcoin-declared-compliant-with-sharia-law-price-surges/

Religion shouldn't even be linked anywhere remotely close to the economy of a nation. We live in the 21st century and modernisation has taken the entire world to a whole new level. A positive upgrade is always welcome under most circumstances and in this case too.
So yeah, moving on from barter system to currency in coins and notes, cryptocurrencies could be the modern day economic game changer for any country.

Yes why not they are now accepting bitcoin because they realized that bitcoin and cryptocurrency are not gambling.
Bitcoin declares from a mosque and other brothers Muslims that bitcoin or cryptocurrency is acceptable from their Allah which is there God.
So, no doubt bitcoin is now currently holding in Muslim people they also invest in it.

In recent times there has indeed been a mosque accepting donations in Bitcoin, but there is a major difference in how open minded muslims are from country to country. In most cases westernized muslims are much more open to embrace new technologies, while the muslims in the middle east are more likely to go with what the religious leaders are pointing out. There is a major difference in overall mentality, which is quite fascinating, but also points out how difficult it is to reach muslims on a global scale. I personally don't care who or what you are, because that doesn't and shouldn't matter when it comes to Bitcoin....

Would be even better if we made sure those countries wouldn't have a choice but to accept it. Just shows that us humans aren't as free as we think lol. Some muslim countries are more westernised than I would have thought though. My mother once went to Saudi Arabia and when she told me what it's like there I was really surprised.

At the end of the day we would all discover bitcoin would overcome religion, race and systems of government to become a benchmark currecny once we are through with all these current bottlenecks.

It very possible due to the fact that bitcoin and crypto currencies are part of globalization and if they must adapt to modern civilization they have to follow the trends and for easy transactions digital currency is the best when it comes to peer to peer means and no boundary limit.

Yes they can accept it

We are in the Modern time and traditional beliefs are fading little by little and what we actually really need today is not tradition but the change that can only be pursue far from traditional matters. So yes,  it is possible.

the face of cryptocurrecies still bad for several moslem countries and still not possible in the near future for moslem countries will accept crypto system because there was some rules in moslem religion says cryptocurrencies system or similar of it is not allowed to apply even i have to says possible this is will never be happened

Yes it is possible to use because is not a meat that it needs to put HALAL this is applicable all unless they don't accept the language of English like some other areas in Muslim country only their language might be used to speak of course their cellphone and some other gadget is exclusively Muslim dialic in other words English is strictly probited to their country  And of course people there are no longer to avail or to use bitcoin like us.

indeed most of the regulators at bay initially expressed skepticism about fintech and last year the central bank warned citizens against bitcoin trade because it is beyond the reach of bank regulations. however, the international financial center regulator abu dhabi said it might create rules for exchange deal with virtual currency.

Yeah definitely, countries like Saudi Arabia and Dubai are a lot more advanced than people think, especially Dubai. I think in another few years, hopefully all countries will be on board

Ofcourse Cryptocurrencies system is possible to Muslim countries, why not? As long as there are internet connection and gadgets, why can`t they? Many Muslim countries are more advance like Saudi and Dubai and I think some people there are using not only bitcoin but other cryptocurrencies also.

Actually no such Islamic countries have neither banned nor termed cryptos as legal till now So the citizens of such countries have not found any difficulties in using cryptos and crypto usage is widely spreading there day by day

I am still awaiting this actually. Hopefully, there would be widespread acceptance. Am not a Moslem so I don't know the rules.

I think it is possible after all I think there is no law that muslims countries couldn't use it ,
Bitcoin or crypto currencies are for everyone as long as they want to use it and they are free to use it then they could use it,
I don't really think that muslims are against cryptocurrencies or they aren't allowed to used it because of their Religion .

we know in dubai there is news that buying property using bitcoin. I agree with your opinion that no Muslim country forbids it completely, even though many Muslim countries have not legalized that

For me, the Muslim countries are the followers of the Europe in everything, and they cannot even do anything without the acceptance of those strong countries. So if the big governments will recognize Bitcoin or cryptocurrencies system the Muslim governments will recognize too. Furthermore, I heard after a few months (when the price of boats little rose) that the Muslims countries decided to consider the currencies non-haraam.

In addition to that, the United Arab Emirates has a big future project in the field of cryptocurrencies, and it is certain that this project related to Blockchain technology. This can happen after a long period because there are many problems related to the bad decisions (attacks) of the biggest governments toward Bitcoin and the other cryptocurrecies

In my opinion as we are in a digital world theres big chances that they will become a part of it.We are here for reasons,to profit,no matter what race we are as long as we already know how everything works here,i think theres no exemptions,after all we what we want here is to do business related to crypto.

Why not ?
what's wrong with cryptocurrency? I think Muslim countries will accept cryptocurrency, as long as it is not against the teachings of Islam.

Very likely because lawfully cryptocurrency in accordance with the function of money in Islamic Shari'a in use as a medium of exchange that is not detrimental to the seller or buyer

I believe there should not be much problem for the Moslem countries to accept cryptocurrenies as it is just another payment system like gold and oil but totally a virtual system. Last year, there was news regarding Moslem countries may invent their own crypto currency but nothing has been declared till yet. Cryptocurrency has nothing to do with any religion, I believe this system has the power to unite people of different religion without the need of any third person.

There are some aspects of Bitcoin that are incompatible with Islamic sharia, and the most critical issue is the "creation of money from nothingness."
Islamic Sharia recognizes gold and silver only, but money "paper money" has been added to it in recent years.
Based on that law, if the currency is not covered with gold and silver, it is not recognized, but it is the political decision that controls everything.
So, in short, if Bitcoin is accepted globally, those countries will recognize and deal with it "as paper money."

Bitcoin isn't just nothing like a rock or a pile of sand. Technically, it has many digital computations on its transactions. It is better than the paper money so it should be accepted by Muslims.

From what I am read recently, cryptocurrency is halal for moslem. Cryptocurrency is most transparant monetary system compare old system. Like bitcoin, its limited supply and its like gold in real life

I think once they realize the convenience of the cryptoCurrencies system, they can easily accept it

n the muslim countries bitcoin or any other cryptocurrencies are considered haram for the same reason as the stock market is considered as a haram act, they consider this to be an act of gambling which according to the islamic law is banned upon and therefore islamic countries do not accept the regulation of crypto.

The Muslim countries in the world most countries like Malaysia Saudi Arabia or Pakistan are either dependant upon the European countries in the world or collaborating with the North American countries on the basis of oil hence their ban will affect the economy and decisions of others

I THINK IT IS NOT POSSIBLE AND EASY FOR MOSLEM COUNTRIES TO ACCEPT THE CRYPTOCURRENCIES SYSTEM.THIS IS BECAUSE MOST OF THE MOSLEM COUNTRIES DO NOT EVEN ACCEPT THE BANKING SYSTEM SINCE THEY ARE INTO ISLAM LAWS AND RULES

Maybe, because electronic money does not affect their religion and in the future I think the whole world economy will accept crypto.

Iran intends to use BTC to fight US economic sanctions!
When they realize that Bitcoin can solve their problems, they will use BTC on a large scale!

Muslims are already allowed to deal with crypto currency and therefore this kind. they are already actively learning. Even already at this forum, ICO under the name ADAB is now being created, which creates the first Muslim cryptobank on the basis of Sharia. So the world is developing, the crypto currency is being introduced everywhere.

let us not generalize the situation that moslems particularly are not allowed to use crypto, there are some countries prohibits the usage of crypto while some also regulates its usage and adapt to changes in economy.

Yes bitcoin is neither a gambling system nor a part of usury which has been strictly prohibited in Islam.Also bitcoin is not like fiat currency and it's free from deflation.Already some Islamic organisations in the West have started to accept bitcoin as donation.Until now,no big Islamic cleric has openly given religious order fatwa as bitcoin to be totally illegal.So there would be no issues for muslim countries to allow crypto currencies.

I will choose to reply your question with questions. How many Muslims do you know that banned Cryptocurrency?

It is not look realistic that any county accept crypot as a system. Muslum countries also will not do it.Moreover it kills crpto environment.

Sharia law prohibits economic activity that isn't based on real assets that are backed by something physical, not just a speculation, so all of the cryptocurrencies we know today including Bitcoin, ETH, etc. aren't allowed to Muslims, as they're digital and only. However, due to this issue, Islamic economy and finances experts in Dubai have thought about creating a cryptocurrency that will follow Sharia law and will be backed up by a well-known physical asset - gold:
https://qz.com/1247409/bitcoin-cryptocurrencies-for-muslims-backed-by-gold-are-popping-up/

If they manage to implement that kind of cryptocurrency that will improve situation on market - people will see that cryptos aren't coming out of the thin air, aren't a bubble or a Ponzi scheme. Maybe more projects like that will appear, this will not only lend credibility to digital money world, but also will reduce fluctuations and make the market more stable.

I think that the religious affiliation of citizens will not affect the development and distribution of bitcoin and crypto currency.

Cryptocurrencies are a technology that has nothing to do with religion or race!

Iran is under U.S. economic sanctions by using cryptocurrencies to counter U.S. economic sanctions!

Many Muslim countries will see the advantages of cryptocurrencies and slowly embrace them!

I haven't had a chance to think about this but I have heard some guys telling that bitcoin and cryptocurrency is not fully halal, so the Muslim countries will have a problems with accepting that.

It seems to me that now everything is possible. And as Bitkino predicts growth at the end of the year, if it's all right, then they will talk even more about it.
The Arab Emirates is a country where eco-mecare is developing rapidly, so it is possible that they can implement crypto

I believe that there is a possibility of recognition, but they are concerned about high volatility. As soon as the stabilization of the price comes, the opinion can change to the recognition of bitcoin by halal.
In the Islamic world crypts can have a lot of potential applications. With only one product targeted at the Muslim world, with a population of 1.6 billion people, we have the widest scope for action.

Indeed, in middle east country their cleric already make statement that cryptocurrency is halal to invest. Middle east country have big capital in fiat money and if they decide to invest on crypto market, I am believe it can move crypto price in market

But I think we should not make it difficult for each other. Wherever it is applied, that's really what the market wants. As in society we should facilitate each other. To make a profit and grow together is what the community expects.

I dont know what is your reason behind that curiosity, those muslim countries have a very good economic state so as times goes by they had the capabilities on adaptation on crypto market. And for me as what Ive seen in many ICOs there are many muslim in a team who manage it so it is not impossible to muslim country to adapt it.

Cryptocurrency is for everyone and I think Moslem countries can take part with this technology. I seen some ICO's coming from the Middle-East and I think they have now open their doors for the cryptocurrency which is good to their countrymen to participate and invest with this phenomenal technology.

I think not just the Moslem countries that can accept the cryptocurrencies system but the other countries have the same possibilities and I think cryptocurrency is for all people in all countries. and like other people said, cryptocurrency can cross-border and don't have any limitations to be used in any country. as long as we can connect with the cryptocurrency, then we can use it for transfer the fund to other people, we can send and receive the fund to other people in any place.

Stellar blockchain has received a certificate of compliance with Sharia law.For the Stellar ecosystem, obtaining a certificate means being able to expand in markets that require compliance with Islamic principles: in the countries of the Cooperation Council of the Arab States of the Persian Gulf (Bahrain, Kuwait, Saudi Arabia, Qatar, United Arab Emirates and Oman) and some countries in South-East Asia.I can conclude that it is necessary to invest in cryptocurrency Stellar.

I do not really understand about them. But I think if there are gadgets and help for them. It is not difficult, simple will be accepted and used as normal. Most people want to benefit themselves. Simple to understand.

Very likely, this is because in the view of Islam, Bitcoin and Cryptocurrency in the view of Islamic law it is permissible and not prohibited. of course this will be the reason some Muslim countries will easily be able to accept Bitcoin and Cryptocurrency.

That is a very big possibility that muslim countries will accept the cryptocurrency system with in their countries, because there is nothing wrong with muslim countries accepting cryptos as currency, because it is just currency and at the ssme time an investments in rhe digital world.

Thats right dude,and as far as i remember theres a thread sometimes in july or june that tackles about muslim groups that invested huge amount inside cryptocurrency,so its not just possibilities but it is happening already


Yups and maybe the only problem about what is the issue if they will engage in gambling inside crypto and that’s prohibited and not allowable

In the tenets and beliefs of islam gambling is forbidden for the fact that  that cryptocurrencies is not gambling or HYIP thus there is no reasons for Islamic countries not accept cryptos what is needed there is adequate public enlightment or publicity because some people may paint cryptos in a bad light and associate it with hyip because of its nature of instability.

I don't really know if the crypto is prohibited to them but I think it is possible for them to accept cryptocurrency because I think that it is not a big deal for their religion to accept it.

this is still a debate some countries accept bitcoin as a useful asset, but Egyptian religious leaders still consider bitcoin dangerous.
Malaysia can be a leading country, I see several ICO projects from Malaysia and apply the concept of sharia.

Yeah it is possible because the Muslim countries are also interested in new technology and digital currency and many Islamic scholars now giving their comments on digital currency and motivate people to invest in cryptocurrency because it is the need of the day and if they do not put their money in cryptocurrency, they would not be able to buy in the future due to very high price.

Many Muslim countries do not think of the sharia laws because they are already doing banking system which is totally against sharia law. They know the importance of cryptocurrency, but still there is no single Islamic country that accepted cryptocurrency but I am sure they will change their mind in the future and will allow their people to invest and trade in cryptocurrency.

It is possible if the European and African countries first accept it fully then after wondering at the success of these countries the Muslim countries will also want to accept this system. It is all about competition between countries and for the development of country everyone wants to apply something to make it better than other countries. Muslim countries will surely accept the Bitcoin if it catches more fire in the Europe and Africa.

if it was not against their religion or does not violate any of their teachings, i think they can do business with crypto, since crypto is an investment, i see nothing wrong with trying crypto, we can see the moslem brothers are good businessmen, they have so many investment, whether it is a property, car or crypto investment, i am sure they will do good in joining crypto trading.

I do not think there is anything that is relevant between "muslim" (not moslem) countries and crypto. Crypto provides nothing that is against any religion. May that be muslim, christian, jewish, buddhist doesn't really matter, bitcoin and crypto in general is not something religious and has anything to do with sins or whatever.

It means you believe that muslim countries have different ways to approach these kinds of things aka innovations. Do you really believe that all muslim countries are the same and some would say no to crypto just because it doesn't follow their path somehow ? That is plainly WRONG.

Basically cryptos are just another format of digital currencies and it has nothing to do with religions. Anyone can adopt and use cryptocurrencies similar to how they are using their debit/credit card or how they do transact their fiats in internet. I agree cryptocurrencies are having few special characteristics which are gain nothing to do with religion.

Yes this is a possibility that in the near future, Bitcoin will be accepted by the Muslim countries like many states in Middle East count in Dubai and may be Qatar.

There is also a school of thought that the crypto currencies are not allowed and your religion does not allow you to trade in crypto but there are many things that are going on in these countries which are also not allowed by the religion so it is a very big possibility that in the near future, Bitcoin and other coins will be accepted by the Muslim countries as well.

Do not forget that development of each country is fully based on the government and how ready they are to provide what is needed for the citizens; which, we both know, most of these governments are simply just after their own pockets. Truth be told, cryptocurrency or blockchain technology will not be able to solve anything in the economic development, if the government is not ready for the development in the first place and with this I am referring to Africa. As time goes on, hopefully there would be a lot of pressure on its adoption, but for now, let's just see how events will unfold.

I thought a news went out recently on the leaders of the Islamic region coming out to say there is nothing wrong in investing in cryptocurrencies and it is never considered a sin in anywhere in the Quran. I am not sure if this was legit news, but as it is, I do not see any problem with Muslim countries adopting cryptocurrency or blockchain technology. Monetary system is evolving and I am sure, as time goes on, they will get to see the benefits it brings and be willing to make use of it to increase further development in their nations

I believe that cryptocurrency is a subjective matter and hence it will differ from person to person as per his beliefs and understanding. I am not the student of Islam and hence cannot comment anything specifically regarding it but on a larger picture, I don't see any trouble for the Muslim countries to adopt decentralized blockchain based cryptocurrencies as this innovation reflects the core values of democracy in a better way.

Discussions like this are evergreen because it goes to the fundamentals of majority of people as religion determines to a large extent how we see life in totality.

For the Islamic countries, I think when the time comes, there will be room for adjustments to happen in the ways things are done. In the past in Saudi Arabia, women were not allowed to drive but today its open even at some period, women were not allowed to seek elective positions even not too long ago was the granting of citizenship to an AI robot in the country.

The point is, at some level people would continue to see the potentials in modernization and the technologies that comes with it. When they analyse and review, they would come to a conclusion as to whether to accept it or postpone it to a future date.

bitcoin can still be accepted because this is tantamount to conventional money which is often used as a transaction tool so that it is still within reasonable limits but some countries reject it and become the subject of discussion whether this includes haram or halal.

Wherewith as a payment system I less confident that the countries who have islamic shari'a will accept cryptocurrency well. The religion of islam really oversee everything the behavior of the lives of the people.

I have heard that the system of transaction be passed by islam, and one of them are the fund or something that will sell by the owner must be real so they can touch by their hand. Whereas the tool of transaction must be real also, so they can hold with real.

And now cryptocurrency, who don't have a real form and cannot hold by hand will make a countries who run the Islamic Shari'a will unwrap a hand and legalize cryptocurrency well. I just figure out countries who have islamic shari'a will legalize cryptocurrency for their country.

Both words are used interchangeably. There's nothing wrong with the "Moslem" spelling and usage. If in doubt, consult your dictionary.

Muslims don't like anything that hypes on profit or interest rate. So, they see bitcoin as a Ponzi scheme. That could be the only reason the Moslem brotherhood may speak trash about bitcoin.

Those are all puppet governments of the whoever controls the US military.  They will do what they are told or else there will be a rebel group who starts shit then takes over.  If the powers that be want crypto in Muslim regions there will be crypto there.  I think we are getting passed the point of believing the governements are not behind or have taken over the crypto movement.   

 In some Islamic countries, bitcoin and cryptocurrency is legal one .It was illegal and neutral in some of them.If the Muslim brotherhood country work like a puppet of U.S government, cryptocurrency will become a legal one soon.In the country sovereign,they won't allow other nations invention.May be they will follow them on military for the peace in their nation.

They may find a hard time to accept bitcoin but later on, they will find out that this market is pretty good in terms of profit making. Maybe this market is against to their belief, and that is why they still not using cryptocurrency. The future will still good for cryptos, and everyone will adopt fot good.

Yes it was possible as long as their government will allow it to happen, so keep on investing right now while the market prices are still low, in order to earn more profit in the future.

Yes it really possible, as far as I know crypto currency not against Islamic law because invest in crypto are same with trading in daily life, we buy and sell to get profit. Its depend on how we use crypto, if we use it for positive reason it's not prohibited in Islam but If you use it for gambling or to fraud people of course that are prohibited in Islam.,

There is nothing to doubt that if the stated countries see the potential of cryptocurrency they might want to engage in cryptocurrency. This is possible to happen because of the current market situation which is getting better and better and at the same time popular. Countries as stated do not want to get left behind so probably they will adopt it.

in my opinion, currently the use of crypto and blockchain does not have a border between them, there is no difference between group A and group B, so this freedom is one of the advantages of crypto, anyone can know and be allowed to learn it. However, the most important thing is to be able to get involved and contribute to investment, of course, requires sufficient financial and do not force yourself

I am not aware of any restrictions. When people and governments will see potential in the system, they will go for it, just like in any other country. I do not really see a difference here.

As it is, it is even getting glaring there is adjustment already going on. At least we have seen some news in the past relating to cryptocurrency and the Islamic countries; for instance, Stellar receiving certification from Islamic scholars for its blockchain platform with the aim of integrating the technology into the field of sharia-compliant financial products, Onegram being the first certified in compliance with the ancient Islamic rules called Shari'ah, mosques receiving cryptocurrency donations (https://www.ethnews.com/cryptocurrency-comes-to-islam) and so many more. I know religion is highly influential when it comes to decision making for a lot of people, but at the same time, I am sure they will come around it and adopt.

Some of these countries have been working with the blockchain technologies and Bitcoins already. Watch it, for example: https://www.youtube.com/watch?v=GseB1vh30vc

I conclude that Cryptocurrency does not violate the Shari'a law against Muslims while being used and access according to the procedures and criteria of each person,
For the advancement of today's era all technology is needed to crypto world competition,
Example: those who receive crypto such as, Turky, Iran, and Indonesia.
For countries like: Saudi Arabia, Qatar, United Arab Emirates and even Brunei Darussalam, in my opinion it is only natural to accept cryptocurrency as an economic ecosystem for that country.

I don't think the cryptocurrency has anything to do with the clan. When the world begins to accept cryptocurrencies, no country can reject it.

Never heard of such condition that our Muslim brothers are banned from using cryptocurrencies. Besides, cryptocurrencies are just a digital currencies that act as alternate to fiat currencies. But in the case of Muslim county like Saudi Arabia, cryptocurrencies are illegal and they prohibit their people using it.

Personally, I do not know because they has a different overview when it comes to somethings but I think they are open to this kind of things especially if it can help them to grow their business. Well I think some bitcoinist are came from Moslem countries and as of now, I do not know or heard something that this countries could banned bitcoin or accept it.

I tend to disagree with your statements. The religion does have a conflict with the type of investment that replicates your money without letting you know what business is being done. This is also a reason why it is banned in Middle East.

However, in my opinion, since so much is happening in these regions of the world, letting Bitcoin operate will not make things further worst rather than doing some good to the economy as well.

There is a great possibilities that our brother muslim brothers will gonna accept bitcoin. If they are looking at the bright facts that bitcoin will gonna help their economic growth, probably their is a chance that muslim men will be able to push it and hopefully adopt it.

I know for a fact that some of my friends who actually lives in those countries that they own crypto currency one way or another. I think there ia a link to the comments here that some countries have accepted crypto currency in their respective countries. But I'm surprised that there is a question such as this. I mean is crypto currency against the teachings of Islam?

In my opinion, the more developed a country is, the more it needs blockchain technology. Because the payment is becoming more and more stagnant because of the high demand. Blockchain technology and its algorithm can solve many problems. Developed countries will be targeting Crypto soon and this will be a potential industry in the future.

Yes sure crypto is best for every one and Muslim countries are also using it because we can say that crypto is designed to makes lives easy and fast so now crypto is using for the betterment of the society and i hope that Muslim and non Muslims will ready for crypto like it is useful for every one in this world.

Yes, definitely no exceptions to all because crypto currency is universal. Those countries you mentioned they are capable of adapting bitcoin and have the technology to do it, they are naturally rich in minerals so they are abundant with and rich as well. So there are no reasons why Muslim countries cannot adapt crypto currency.

I see Iran accepting Crypto well and they make it as a digital currency to fight the movement of the US dollar in the country. Iran is a dominant Muslim country and this is one step forward for Crypto

I do not see any reason why Muslims are forbidden to use crypto-currencies. These are advanced countries and I think they will necessarily find the correct use of crypto currency.

This is a very serious question but i think this could be possible cause we all know that crypto currency is a virtual money that no can controlled it. So i think even moslim countries  still have some people who are secretively working with this kind of technology cause we all know that bitcoin can really change your life if you realky work hard for it.

I don't think this clan has anything to do with it. Muslims are just a kind of faith. They do not represent their uniqueness. They are now an economic society.

Actually, as far as I know there are some place in the middle east which are enthusiast of crypto and bitcoin currency where it is a Muslim

country, right? so which means it is a big yes possible to be happen, in fact its already happened sometime ago.

Yeah of course, it is possible, because Muslims also want to invest in such a currency which is acceptable in the whole world and which will take over the market in the future. Although some Muslim scholars are against cryptocurrency investment but mostly people want to invest in crypto and we will see one day that Muslim countries will also accept cryptocurrency (bitcoin) as their legal currency.

crypto is not prohibited in Muslim religion. during crypto, it is not the result of crime. crypto currency is the same as USD. Muslim countries are very open to crypto currencies as long as there are regulations that specify them. I believe that Muslim religion is an open religion and is always willing to keep up with the times.

Exactly! And the fact remains that most of the developed Muslim countries certainly will not have any problem when it comes to accepting the space for what it is and not seeing any problem with it.

At this stage, any smart country will be looking at the opportunities a space will bring to their economy in the long run, and be able to perceive how things should really work out based on their vision. It is a good thing that some of the Arab Muslim based countries really do not have any problem with it and does not go against any sharia Islamic law.

Why not? I don't see much difference between the use of fiat and Cryptocurrency except that former is issued by governments why the latter is not .
If their (governments) reason for not liking  Cryptocurrency is because of its use for prostitution, gambling  etc why then do they accept the dollar or other non-islamic fiats that are possibly being used for similar and worst things?

Of course yes but not all muslim coutry are approved bitcoin because some other area are not accepted english language because they want all muslim are in not to necessarily accept the stranger's from outside.

I think there is no relation between cryptocurrency and Islam. Muslims also do business all over the world and the use of cryptocurrency will make it easy for them to purchase or sell their products online against cryptocurrency. I am also a Muslim and I will feel ease and happiness. I am anxiously waiting for the time when the whole world will use only cryptocurrency globally.

Islamic religion has never in any way kicked against the idea of blockchain technology as well as cryptocurrency and indeed the countries within this perspective, are really embracing it pretty fast I must say. I really have not heard of single teachings of Islam that goes against cryptocurrency and if it is that, then, we would not have seen some of the Arabian countries, embracing the technology and seeing it as a welcome development in the long run.

Why not, it's very possible. Non-Muslim countries and Muslim countries are all the same. Bitcoin and Cryptocurrency are modern technologies, Muslim countries can certainly accept it. I'm sure of that.

I am Muslim and my country is predominantly Muslim, and we are fine with no problems with cryptocurrency. As long as it is used for positive things, of course all countries will receive cryptocurrency.

It's absolutely possible because I had read a news about it https://www.google.co.id/amp/s/qz.com/1247409/bitcoin-cryptocurrencies-for-muslims-backed-by-gold-are-popping-up/amp/ . Well what I do also in this thread I joined some bounty which is backed by muslim and sharia law. So, in muslim as long as we use bitcoin in a good way then nothing to worry about it.

my opinion about this is more liberal as it is possible for Arab countries to allow crypto in Arab countries. some have embraced the blockchain system in various fields in the country, such as in qatar for example.

it might happen, I also live in a country that is predominantly Muslim, as long as the rules of the game do not violate the applicable law and do not lead to gambling then they will accept as well as internet and stock investments that I know they do not forbid it, but need hard work to realize that

Cryptocurrency regimes are appropriate for any country. It is not banned under Muslim religious rules, and they would gladly accept encryption.

There are even a few Islamic crypto-exchanges in the pipeline. I remember going through the ANN of one such exchange here (don't remember the name exactly). That said, don't think that some Islamic nation is going to declare Bitcoin as the national currency anytime in the next 100 years.

Well predicting about a century is not wise I think. There is no such kind of thinking about the shariah economic system in most of the Muslim countries except Saudi Arabia. Rest of the muslim countries are all following the interest based economic system which is strictly prohibited in Islamic teachings.

It is not just possible, but most likely this will happen soon, because recently these countries have begun to talk about it very often!

for now it seems that it is still very difficult to be able to be used by all Muslims in the world but I am sure that in the future as time goes by and technology develops there will certainly be many Muslims using bitcoin to make transactions, because I see in some countries big Muslims like dubai and others start trying to make payments and transactions using cryptocurrency.

Some of my muslim friend are so in for business and making money. So I guess they would really want to have a place inside this kind of market in the futture.

That could be a great possibility that the moslem countries will accept the cryptocurrency system, because this technology does not prefer any religion across the world , this technology is for digital currency, and every people and countries have the chance to use them ,that if they accept and would really like cryptocurrency.

I am once reading article in online media that ulama fatwa in middle east already mention that cryptocurrency is a halal investment instrument. I think its not debateable anymore because its true investment in digital world

I'm not a Moslem but I'm heard that they already see crypto investment as not against their law (correct me If I'm wrong) so its a good news specially for our Moslem brothers who are also a devoted crypto investors. And it only shows that crypto has no boundaries whatsoever and it can truly revolutionizes how everyone perceived money as form of investments and it can change the landscape of the financial world.

If the moslem countries see that the crypto currency system is beneficial especially to the economic situations of every country, then there is big possibility that yhis moslem counties will accept and adopt the cryptocurrency technology, especially if they see a good chance that it will improve the life of the people , so they will adopt the technology of cryptos.

You right, if their concerns are about price fluctuations. even fiat can experience inflation which makes them lose? you're right as long as it's used positively I don't think it's a problem for Muslims to use crypto. after all there is no clear statement from the ulama for this matter right?

i dont think crypto is conflicting any teaching of any religion. AFAIK crypto is promoting decentralise system, open public ledger and trustless system which doesnt require human to verify the transaction. All transaction made are true and can be trace wallet to wallet, hence improve integrity.

crypto trading market is different story. its wild west there, everyone are the same in the market, everyone can try their luck at their own risk.

Not just in this place you have mentioned, but most of Arab nation and in fact, I recently read news of UAE leaders talking about the general adoption and global regulation of cryptocurrencies as well as blockchain technology.

I believe there is no haram as Muslim so calls it, when it comes to investing in something and as long as it is not a bad means of investment and it is something that has to do with technological advancement, they would most definitely not want to be left behind.

I believe there is not even a single Arab or Muslim nation that is kicking against the idea of blockchain technology and cryptocurrency at the moment, but are rather embracing it.

Exactly. Why do some people even think it'll be an issue? Religion have nothing to do with the stock market right? What difference does crypto have with that lol.

I thought there is no problem with having cryptocurrencies in a religion. In fact, I don't see any connections between religion and currency. Maybe, I am just a person who has a different religion and I think I don't have enough knowledge to the policies of Muslim. However, I respect them if they ban nor regulated the use of cryptocurrencies but for me, it is good if all of us will unite to change the future of digital currency. Because crypto is the future of all things in this earth.

people just thought the thing that should not thought.better to care to another thing , what we could do to make cryptocurrency market recovered again.

In my opinion. Muslim countries want to accept a digital financial system, crypto. all this time digital currencies have existed in all countries but the financial system is still centralized. with the existence of crypto currency, I think the muslimpun country is willing to accept this financial system. they will need this currency for their economic progress. so they can compete with other countries.

First of all its Muslims not moslim. About accepting well its not matter the race of religions. Bitcoin is for everyone and anyone can use it even a 5 year old kid can manage its coins.

Does cryptocurrency have anything to do with religion? not related! Muslims also contribute to humanity and they accept cryptocurrencies.

Who would not want to be in business for making money and the last time I checked, there is no religion that says that making of money is a sin, at least, as long as it is not from dirty or fraudulent means.

I really do not see how being a Muslim will deter anyone from being a part of the space or believing in the future of blockchain technology. It is just an evolution and even the Muslim nations and countries are adopting it, knowing the benefit they will eventually be getting from it in the long run.

Unofficially - yes, but publicly - no, because crypto is all about freedom, and Muslim countries tend to suppress the wish of their people for freedom.
Anyway, the countries you've listed are economically well, so I don't think their citizens are very much interested in cryptocurrencies as they have a good basic source of income provided by the state.

indeed crypto has nothing to do with religion, but a different belief. some Muslims consider it good and some don't, it all depends on how we get it. Surely if I call this it is very good and useful for all who use it.

I am Muslim too and i also accept many deals with bitcoins there is nothing wrong with using bitcoin is Muslim's region. Bitcoin and religion should not be mixed or inter related.

It depends on how you want to spell it, as there is actually different spelling for it. According to Wikipedia, the ordinary word in English is "Muslim". It is sometimes transliterated as "Moslem", which is an older spelling.

Well, that is not actually why we are here. Practically, we can obviously see that a lot of the Muslim countries really do not have any problem with the new payment system, at least from my end I have seen some news in which there was several discussion on the matter which actually tended towards the positive side of adoption in the long run and I do not believe payment system should ever be against any religion as far as I am concerned.

I am believe islamic country will accept cryptocurrency. Cryptocurrency offering most secure system in monetary system. Beside that, cryptocurrency is like fiat money except using decentralized system

If I am not mistaken, they have already either included cryptocurrency in the economy or are going to do it, because in such rich countries they know that they can get income from this and even if something goes wrong, they will not suffer from it, because the budget of such countries are too high.

Yes, it's possible. All the monetary systems that ever accepted in the history were accepted by the Moslem countries. Moslems are in fact techy people. They don't want to be left behind in terms of technological advancements. So imagine if all nations are using crypto as the main mode of payment, will they let theirs to be left behind?! Of course not! Time will come that crypto, the true ones that will survive the crisis now, willl go mainstream, and all nations, as in all nations, will acknowledge its use, including the Arab countries.

As a Muslim I do not think there is a problem using such a system

Why not. besides, they are much more advanced in this matter than the same Europe. therefore they can be said already on the way to this coup.

Countries have yet to agree on the use of crypto and so moslem countries will not accept the crypto system, they are obliged to respect the opinions of other countries but I believe Moslem Country is where people use crypto very popular. Because they are countries with huge war and terror, terrorist organizations will need tools like crypto to buy weapons, and this tells us that although crypto is not accepted by the government but it has penetrated into every country, acceptance is something that will happen in the future

The leading Arabic countries have already proved it. Look at the UAE. They deal with the cryptocurrencies, cooperate with Japan, China and the USA working out ICOs,  making the projects, and so on.

Most smart countries with visionary leaders actually know the level at which accepting and adopting cryptocurrency can generally help their economy in a way. This is something that is global and decentralized, people will not even have to rely on fiat totally anymore and reduce the pressure somehow on it, and for the fact that it would bring about ease of payment globally, then I guess, even the Muslim countries will not want to be left out. We have seen so much news lately, of even some parts of the UAE, clamoring for global regulation and I see that as a system that is really looking forward to adopting it.

Of course it can be allowed and used in Muslims countries without any doubt. In fact countries with the biggest markets for the world have a majority or a certain portion of Muslims. I see the technology spreading to Middle East in the near future. Besides, there might be an argument that cryptocurrency is not allowed according to a particular concept of a particular group which could be avoided or not taken in to concern for ultimately if there is demand for it, there will be supply.

Cryptocurrencies were developed for the usage of all levels of people who has got the ability to understand the technology to certain point. There is no discrimination as moslem and other religion. Some cryptocurrencies were developed following their own moslem laws. So, there's nothing new with the adoption of cryptocurrency from moslem countries.

in my opinion maybe because I am a Muslim and live in Indonesia, the majority of the population is Muslim. in the principle of Islamic law as long as it does not harm others it is not usury and not gambling, so that is something that is permissible. and in my country there is an Islamic institution in charge of giving halal or illegitimate labels. as far as I know, the institution has issued a halal fatwa on bitcoin. so we may trade or invest in bitcoin. but in my country, bitcoin is still illegal and should not be used as a payment instrument. bitcoin is only an investment tool.

so meaning the bitcoin is illegal for usage for a muslim person? is it a law on your religion or law on your country? As far as I know usage of certain thing in muslim country is not prohibited as long as it is not harmful for a person and for the others,so it is by the country laws?

I've never heard that MUI officially released a halal fatwa on bitcoin or bitcoin investment
in fact they say bitcoin becomes haram when it is used as speculation tool, which we do most of the time ;)
can you cite a trusted site where MUI explicitly states that bitcoin is halal

You are wrong here. Nowadays religion plays less and less of a role in a country's economy. For example, United Arab Emirates, mentioned in the OP, is actually a crypto friendly country. Earlier this year the Dubai Multi Commodities Center (DMCC) gave a gold trading company in Dubai the cryptocurrency trading license after which the company launched the “world’s first” cold storage vault for crypto. UAE even wants to play a leading role in adoption of blockchain technologies


Source: https://www.vantageasia.com/cryptocurrency-law-uae/

Another example is Malaysia, predominantly Muslim country, which is very crypto friendly, unlike Bolivia, Ecuador and China (PRC), where Bitcoin is banned although they are not Muslim countries.

The only thing forbidden by sharia is interest, I believe. So pure cryptos like bitcoin, litecoin and so on are fine. The staking coins might not be.

if fluctuations are constraints that they consider, their local currency is also vulnerable to inflation right? I think it is clear that what is forbidden is to use the currency for gambling or detrimental activities, even though the Islamic countries themselves more prefer to the dinar (gold) currency as the main currency because it is much safer and more stable

I think you are right. That's why, for example, although Bitcoin is "banned" in Saudi Arabia, as we can learn from most sources, it is not that banned in reality. There is a bitcoin ATM in the city of Jubail. And if you live in Saudi Arabia you can buy BTC through an exchange called BitOasis. I'm writing this in addition to what I said above about United Arab Emirates and Malaysia. Muslim countries are not that hostile towards cryptocurrencies as it may seem.

Why not if the these Muslim Countries will accept cryptocurrency system with arms wide open. I have seen an ICO now that's about cryptoexchange in which it functions in accordance with Shariah rules.

I agree. There may be some parts of the Moslem countries which are in contradiction with the use of bitcoin in transaction. But this could not be taken generally. There are still exceptions on this. And just like any countries, there is a period of transition on the acceptance of btc and cryptocurrency on a Moslem country or not.

What is crypto in general? It was created as an attempt to escape total control of banks and governments. Contrary to that, Muslim culture  is all about control (control of thoughts, actions, Internet... and finance). If the sharia laws become more liberal, cryptocurrencies could be among the first things to be widely accepted by the Muslims. I don't know when this is likely to happen, but the general worldwide trend is "more freedom and less regulation", so in the nearest future we can witness more Arabic investors on crypto market.

Yes and its happening now impact i have see them in this bounty section that they have some ICO project name ADAB https://bitcointalk.org/index.php?topic=4722627.0. So i think there is no problem or there is no law that the Muslim world is prohibit to join the crypto currency investment and with the huge population of the Muslim people i could see that they are a great additional force in favor of Crypto currency.

They are there already, cryptocurrenices are being used by people from Arab countries many of whom are Muslims. The Sharia Law can't become more liberal because it is like it is. However, is it so sophisticated that it needs interpretations for the general public. That's what was done by an Islamic scholar, Mufti Muhammad Abu Bakar, who published a 22-page research concluding that “Bitcoin qualifies as Islamic money, except where it is banned by a local government.” So, it's not the Sharia Law, but rather the governments of some Arabic countries who is opposing Bitcoin and other cryptos. They interpret the Sharia Law in order to please their own needs, depriving their citizens of many freedoms, including the freedom of choosing what currency to use.

Here's the link to the document in question: https://blossom.docsend.com/view/x4ayq52

I think yes , crypto is very popular in different countries but i think moslem countries need to determine or to knowing what is crypto benefits to us. If this is happen bitcoin has a chance to be pump up and be familiar in the market . And i think moslem need this too to improve the online industries in the country.

The countries of the Persian Gulf are very sensitive to money, so if it is convenient to use cryptocurrency, they will join.

Possible the country of Muslim accept cryptocurrency system especially when they have proof that crypto is good and not some people think about it because some people have mindset negatively about crypto like they think its scam. But since many people proven that crypto is not bad as what some people think they will surely believe and possible accept it especially when they get to know it much better. And possible they will accept once they know that they can get huge profit from it.

Is bitcoin halal? From my reading, yes it is. But, modern currencies are not. Bitcoin can be considered both a currency and a payment network and this distinction is important because the Sharia principles that apply vary. As a payment network, bitcoin is halal. Why? It's because bitcoin is unlike conventional bank network where the currencies are based on debt with usury which is prohibited in Islam. Bitcoin is based on a proof of work which is impermissible in Islam.

in fact, I think the blockchain system in crypto currency is suitable to be applied in the sariah economic system, because it is transparent so that the flow can be seen where a fund occurs, and even low costs close to zero in each transaction, now ICO is starting to emerge sariah and comes from a Muslim-majority country as well

As far as I know, there is an ICO project of the first crypto-exchange complying with Sharia law. The project is called "Abad solutions". The ICO is still ongoing, and I don’t know how successful it is, but you can visit their page. Unfortunately, I am not particularly familiar with the laws and rules of Islam in order to assert how cryptocurrency can comply with the rules of this religion, but progress does not stand still. Any religious orthodoxy eventually recedes into the background.

Cryptocurrency system does not have reservation for any religious kind of economy or country. Even the countries you have mentioned I am certain are already participants of cryptocurrency. It is just left to make it official, which is what every other country is also waiting for.

That is very possible that moslem countries will accept the cryptocurrency system ,because if you will study and observe the crypto system it offers some good output for business and economy ,only that it is decentralized and circulating in the dihgital world, if these moslem countries are open minded to the crypto system ,then they will surely adopt this kind of technology.

There is always a possibility that they will accept cryptos to be part in their economic system because it involves money. And we know how useful money is in the improvement of the economy. What matter most is how will they handle it inorder to have a good results.

Cryptocurrency does not work perfectly for some particular religion or group of people. Remember, countries are governed by authorities and once the authorities detest cryptocurrency, the religious status of that country does not really matter.

As far as I know, crypto is not against Islamic law. There is no mention about crypto in the holy Quran or the Hadiths, as it didn't existed 1,200 years ago. If some cleric tells you that crypto is against Islam, then he is lying.

If Government regulate cryptocurrency as currency, i think cryptocurrency halal for muslim country. I am once read that cleric in middle east already made fatwa that cryptocurrency like bitcoin is halal based on sharia

I think it's not possible to our brothers and sisters in the Muslim countries as long as it will not against to their beliefs.

The author of the thread probably does not know that many Moslem countries actively work with the cryptocurrencies and use the blockchain technologies. United Arab Emirates was one of the pioneers to start dealing with BTC.

I believe so. For one thing their internet service is hell of a fast beast and they're actually capable of 5g. Next, they're people who focuses more on business than employment, so yeah they couod be a good market for crypto currency. Lastly, they're people. By that logic they also need money to trade products and services, I don't see how religion plays into it.

The cryptocurrency has nothing to do with any race or any race. Muslim countries also have elites, and they are more likely to buy bitcoin early on, which is very normal. In the future, when Bitcoin takes off again, the cryptocurrency will win the world.

Any race can accept cryptocurrency even the muslim country as long as they have basic knowledge about it. Also cryptocurrency is for everyone so it mean anyone can accept and adopt it, so there's possibility it muslim can accept Bitcoin to their country. But the only problem is if their government allowed crypto to used in thir country, but for sure once they saw the good side of crypto sure they will accept it.

some does, mostly still reviewing how to make crypto sharia compliance. so far they are interested and the future is bright. still, crypto is a tool of trade. crypto is for everyone, regardless races and religion.

It will be very dependent on the regulation by a particular Muslim government on the adaptation of cryptocurrency. Some says that other Muslim countries are already adapting it. We can't tell for sure. But as long as it is not against their belief then it won't be a hindrance for them.

It's definitely possible If they want an independent system in their countries.. In that way they can have an easier and developed economic system.

One hundred percent possible, cryptocurrency are not made for religion.
It will not choose any country nor religion. it is meant for all the people in this world.
Adaption and usage of crypto will occur soon in all countries.

I think that if cryptocurrencies will occupy a significant niche in the modern financial world, then Muslim countries will have to adapt to existing realities. Self-isolation usually ends poorly. Look at North Korea. It seems to me that the leadership of many Islamic countries is no longer so orthodox to exclude the possibility of earning money and improve the lives of the population of their countries. Especially since you can find a compromise between religion and the financial sphere. As far as I know, crypto-exchanges are already emerging, which are going to act in compliance with Sharia law. Abad Solution is an ICO project, which I heard about, but I think it is not the only one.

I am agree, muslim should not kicking againts the idea of blockchain and cryptocurrency. Cryptocurrency is reality in digital world and i think soon and later muslim world will accepting it. If more muslim country implementing cryptocurrency system in their economic system, i am believe corruption can be eliminated

I don't think that cryptocurrency is prohibited for use by Muslims. the fact that I am in the largest Muslim country and cryptocurrency is well known here. but there hasn't been any prohibition from certain assemblies to prohibit cryptocurrency. but for implementation it will certainly involve the government not just religion..

Yes Crypto is useful for every one and now a days crypto is using in every part of the world and crypto currency exchanges is operating in the Muslim countries and soon they will also establish a good crypto currencies system in the world and after that Muslim countries will use it for international trade as well.

There is a possibility that the muslim countries can accept cryptocurrency systems because there is no wrong why they do not accept it. We have an equal rights even we have different religion.

There are a few cryptocurrencies projects in the crypto space that is targeting the Muslim population of the world. What they needed is the reassurance that the crypto transaction is in line with their faith

This has been discussed many times already I think,yes it can be accepted by anyone if they want since it is not against anything in sharia as far as I know.To be more precise even the current fiat money system is against by sharia since it is controlled by banks but bitcoin is not controlled by anyone and still act as medium for transaction.

Moslem countries are going to used bitcoin and others cryptocurrencies and blockchain technology if it can be centralized.  Remember that most of the Moslem countries have no democracy and because of this the citizens are not completely free from the governmts.  Cryptocurrencies is about freedom and that is what most of the Moslem leaders will not like.  Country like Saudi arabia and Iran has king that may not want the system that they don't have control over and that is why they may not want blockchain technology or cryptocurrencies system.

If you are from western countries then there is no wonder that you have this opinion about muslim countries in your mind.But kind ruling countries are not like they are treating us like a slave which can be seen in histotric films,but it is more liberal country then ruled by political party if the kind if much good person,I don't think king is opposing this technology but the media will be portraying something like that.

I saw the news that the Arab countries have issued their own cryptocurrencies, but they do not use cryptocurrencies as trading currencies, which may take more time. The Arab countries will certainly accept cryptocurrencies, and no country will miss the blockchain dividend.

The cryptocurrency has nothing to do with religion. The cryptocurrency requires education. Only education can promote cryptocurrency, but I think this is a future discipline. At present, it belongs to only a few people. But some scammers use education to defraud.