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

[sana54210]

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?

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.

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[alroys]

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.

[Wete]

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.

[Rossy Akbar]

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.

[ibrayzorhaf]

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.

[bajingluncat]

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

[chengyinoing]

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

[bryant.coleman]

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.

[nidacoinlove]

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.

[vasilev456]

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

[Google+]

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.

[charlotte04]

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?

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.

[ngano ba]

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.

[Burogh]

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 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

[Reatim]

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'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.

[Escf4]

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.

[Pattart]

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.

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?

[sinkfish]

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.

[Whosdaddy]

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 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

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.

[gabmen]

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.

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?

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.