14 minutes agoSpeaks the Egyptian Mufti: Islam won't accept Bitcoin, it's Ablam
Periskopi(8 years ago)
(8 years ago)The great Egyptian mufti has issued an official fatwa (the subject prohibiting things which are contrary to the rules of Islam, Saint. of translators, halting Bitcoin, which rose to 20,000 dollars in December. The trade based on cryptovaluta is similar to the games of fate and is [...]
The event was issued after consultations with some economic experts, said Egypt's Grand Mufti Shauki Allam on Monday, as quoted by the newspaper “Ahram”.
Egypt's legitimate organs do not consider trading of a virtual currency as bitcoin to be acceptable, he said, where using cryptotopals “ran into state authority in preserving currency”.
The mufti compared the commercial exchange of cryptovalut to fortune games, which is prohibited in Islam “due to its direct responsibility in financial collapse”.
The clergyman said Bitcoin could negatively affect the legal security of those who trade it and lead to a <x0->cal light on money laundering and smuggling trade”.
Allam's statement came as Bitcoin's value continues to fluctuate unpredictablely. As of January 3rd, its price stands at $15,000.
In November, Turkey's highest religious authority -- the Directorate of Religious Affairs, also known as Dayannet -- stated that buying and selling digital currency is contrary to religion because of its lack of order and close connection with criminal activities.
Despite the December fall, Bitcoin saw a tremendous increase during 2017, during which its price rose by over 1,300 percent. /Periscopi/
