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

[gambitcoin53]

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?

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.

[beerlover]

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?

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.

[redsun114]

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.

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.

[aencarnaci]

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

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

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.

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

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.

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

[Dudeperfect]

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.

[audaciousbeing]

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.

[Gadhoh]

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?

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.

[EdenHazard]

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?

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.

[Mpamaegbu]

I do not think there is anything that is relevant between "muslim" (not moslem) countries and crypto.

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.

[goshay97]

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?

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.   

[usekevin]

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?

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.

[samcrypto]

I do not think there is anything that is relevant between "muslim" (not moslem) countries and crypto.

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.

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.

[laravuemaster]

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 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.

[dewi91]

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.

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.,

[rickyNmorty]

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?

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.

[Dondont]

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?

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

[kripkiki12]

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.

[tosmartak]

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.

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.

[readygoaw]

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.

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.

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

[YOSHIE]

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?

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.