Post
Topic
Board Economics
Re: Is It Possible that The Moslem Countries Can Accept The CryptoCurrencies System?
by
Betwrong
on 01/11/2018, 11:27:01 UTC
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?


The only thing forbidden by sharia is interest, I believe. So pure cryptos like bitcoin, litecoin and so on are fine. The staking coins might not be.

I think you are right. That's why, for example, although Bitcoin is "banned" in Saudi Arabia, as we can learn from most sources, it is not that banned in reality. There is a bitcoin ATM in the city of Jubail. And if you live in Saudi Arabia you can buy BTC through an exchange called BitOasis. I'm writing this in addition to what I said above about United Arab Emirates and Malaysia. Muslim countries are not that hostile towards cryptocurrencies as it may seem.