Is bitcoin funny? The Islamic body makes a decision

Turkey's leading religious organisation has made the decision that virtual currency, Bitcoin, is not appropriate with Islamic religious rules, the Euronea writes.

The directorate for Religious Affairs, or Dayannet, a state organisation that deals with religious issues, has said that the use of Bitcoin by Muslims is not allowed because, according to them, virtual currency is open to financial speculation.

“Bler and the sale of virtual currency do not comply with the rules of Islam at this time, due to the fact that these currency can be speculated and can be used easily in criminal activities such as money laundering and are not under the supervision of the state”, says Dayannet's decision on the matter.

Bitcoin's value has reached $10,000, while assuming that some 3 billion virtual currency is currently in circulation. In April, Japan recognized this type of money as legal and used in every instance, but other countries have not yet done so.