Is It Possible that The Moslem Countries Can Accept The CryptoCurrencies System?

[gabbie2010]

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?

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

[passwordnow]

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.

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.

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?

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

[13abyknight]

What's your opinion?

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.

[BTCeminjas]

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?

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.

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.

[richardsNY]

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

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....

[Atfirstno]

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.

[Jazmyn]

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.

[Yarsk]

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.

[Motigbo401]

Yes they can accept it

[King Koy]

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.

[bering]

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

[boksoon]

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?

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.

[Fuhre]

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.

[tsmmyth]

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

[Wittycoin]

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.

[ladydark]

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?

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

[bowals]

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

[xvids]

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 .

[bangkit tri]

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?

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

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

[Baoo]

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