Indonesia's Islamic organisation Nahdlatul Ulama in East Java has issued a "fatwa" against the use of cryptocurrency in the country declaring it forbidden under Islamic law.

The religious body reached the decision after a discussion as it&nbsp;reportedly said&nbsp;the use of cryptocurrency is&nbsp;not legal under Islamic Sharia law.

<a href="https://www.wionews.com/science/cryptocurrency-spacex-to-accept-dogecoin-as-payment-for-doge-1-mission-to-the-moon-next-year-384084">Also Read:&nbsp;SpaceX to accept Dogecoin as payment for 'DOGE-1 Mission' to the moon next year</a>

The move comes as Indonesians have shown a huge interest in the new digital currency as reports claim the country will not ban cryptocurrencies, however, it will ensure it is not used for illegal activities.

Indonesia's minister of trade Muhammad Luthfi had asserted that although it wouldn't prohibit&nbsp;cryptocurrencies&nbsp;but the regulations will be tightened.

<a href="https://www.wionews.com/technology/south-korea-to-clamp-down-on-cryptocurrency-phishing-activity-383873">Also Read:&nbsp;South Korea to clamp down on cryptocurrency phishing activity&nbsp;</a>

Reports say bitcoin, dogecoin and ethereum are considered assets in Indonesia which can be traded but cannot be used as means of payment. Domestic exchanges in the country have been witnessing a boom in cryptocurrency with millions of citizens involved in trading.

Last month Bitcoin futures exchange-traded fund (ETF) was launched on the New York Stock Exchange as its value hit a new high to reach above $66,000. The currency had gained 50 per cent last month and reportedly 450 per cent over the past year.

The currency had fallen drastically in May after China&nbsp;had cracked down on trading and mining cryptocurrencies. However, El Salvador declared it a legal tender in September.

<a href="https://www.wionews.com/world/turkey-adds-cryptocurrency-exchanges-to-terror-funding-rules-382183">Also Read:&nbsp;Turkey adds cryptocurrency exchanges to terror funding rules&nbsp;</a>

The US Treasury Department had earlier expressed concern over the rise of cryptocurrencies as it pointed out that it could undermine the effectiveness of sanctions. The department said it faces "new challenges including rising risks from new payments systems, the growing use of digital assets, and cybercriminals."

(With inputs from Agencies)

Indonesia's Islamic organisation Nahdlatul Ulama in East Java has issued a "fatwa" against the use of cryptocurrency in the country declaring it forbidden under Islamic law.

Indonesia's Islamic organisation Nahdlatul Ulama in East Java has issued a "fatwa" against the use of cryptocurrency in the country declaring it forbidden under Islamic law. The religious body reached the decision after a discussion as it reportedly said the use of cryptocurrency is not legal under Islamic Sharia law. Also Read: SpaceX to accept Dogecoin as payment for 'DOGE-1 Mission' to the moon next year The move comes as Indonesians have shown a huge interest in the new digital currency as reports claim the country will not ban cryptocurrencies, however, it will ensure it is not used for illegal activities. Indonesia's minister of trade Muhammad Luthfi had asserted that although it wouldn't prohibit cryptocurrencies but the regulations will be tightened. Also Read: South Korea to clamp down on cryptocurrency phishing activity Reports say bitcoin, dogecoin and ethereum are considered assets in Indonesia which can be traded but cannot be used as means of payment. Domestic exchanges in the country have been witnessing a boom in cryptocurrency with millions of citizens involved in trading. Last month Bitcoin futures exchange-traded fund (ETF) was launched on the New York Stock Exchange as its value hit a new high to reach above $66,000. The currency had gained 50 per cent last month and reportedly 450 per cent over the past year. The currency had fallen drastically in May after China had cracked down on trading and mining cryptocurrencies. However, El Salvador declared it a legal tender in September. Also Read: Turkey adds cryptocurrency exchanges to terror funding rules The US Treasury Department had earlier expressed concern over the rise of cryptocurrencies as it pointed out that it could undermine the effectiveness of sanctions. The department said it faces "new challenges including rising risks from new payments systems, the growing use of digital assets, and cybercriminals." (With inputs from Agencies)

Islamic organisation in Indonesia declares fatwa against cryptocurrency; says it is against Sharia law

Avid players of smash-hit mobile phone game Pokemon Go in Indonesia, home to the world&#39;s largest Muslim population, are not letting religious decrees or security warnings get in the way of their mission to catch their next cartoon creature. 
 
Nintendo&#39;s augmented reality app, in which players walk around real-life places to hunt virtual characters on their smartphone screens, has become an instant hit globally, almost doubling the market value of the Japanese game-maker. 
 
But not everyone is cheering it. 
 
Saudi Arabia&#39;s top clerical body recently renewed a 15-year-old fatwa, or edict, that declared the Pokemon game franchise un-Islamic, saying it promotes gambling and the theory of evolution, among other concerns. 
 
The fatwa, however, made no mention of the successful new Pokemon Go mobile game. 
 
The Indonesian Ulema Council (MUI), the country&#39;s top Muslim clerical body, has not made a formal statement on Pokemon Go, senior official Amidhan Shaberah said. But he said the game carries &quot;more harm than benefits&quot; as it can make people &quot;intoxicated&quot;, at the cost of their work or studies. 
 
Indonesian security officials have said it could allow enemies to gather sensitive satellite data, according to local media. Officials have also banned people from playing in the presidential palace premises. 
 
A spokeswoman at Pokemon Co, which produced the title with Nintendo, said the game was designed for enjoyment and not to promote social ills. 
 
Pokemon Go has not been officially launched in the country of 250 million people - an enthusiastic adopter of social media apps - but tens of thousands of Indonesians are already getting it by using a proxy location on their smartphones that gives them access to app stores of other countries. 
 
&quot;I will not stop playing unless the reason is realistic,&quot; said Mohammad Resja Ilham, a 24-year-old radio host who catches Pokemons on his way to work and back home, and up to five hours on weekends. 
 
&quot;I can meet new people when I play, it&#39;s really fun.&quot; 
 
Businesses are also cashing in. 
 
Indonesian telecommunication service provider PT XL Axiata Tbk is offering a 20 per cent discount for certain 4G data packages to &quot;take advantage of the Pokemon Go trend&quot;, spokeswoman Turina Farouk said. 
 
Last Saturday, Southeast Asian ride-hailing service Grab offered deals to Pokemon hunters who hopped on its vehicles to get to the National Monument in the Indonesian capital. 
 
&quot;People are crazy about it now,&quot; said Ridzki Kramadibrata, Indonesia managing director for Grab. &quot;I was there (the National Monument) myself and managed to catch some Pokemons.&quot; 
 
(Reuters)

Saudi Arabia's top clerical body had recently renewed a 15-year-old fatwa that declared the Pokemon game franchise un-Islamic

Avid players of smash-hit mobile phone game Pokemon Go in Indonesia, home to the world's largest Muslim population, are not letting religious decrees or security warnings get in the way of their mission to catch their next cartoon creature. Nintendo's augmented reality app, in which players walk around real-life places to hunt virtual characters on their smartphone screens, has become an instant hit globally, almost doubling the market value of the Japanese game-maker. But not everyone is cheering it. Saudi Arabia's top clerical body recently renewed a 15-year-old fatwa, or edict, that declared the Pokemon game franchise un-Islamic, saying it promotes gambling and the theory of evolution, among other concerns. The fatwa, however, made no mention of the successful new Pokemon Go mobile game. The Indonesian Ulema Council (MUI), the country's top Muslim clerical body, has not made a formal statement on Pokemon Go, senior official Amidhan Shaberah said. But he said the game carries "more harm than benefits" as it can make people "intoxicated", at the cost of their work or studies. Indonesian security officials have said it could allow enemies to gather sensitive satellite data, according to local media. Officials have also banned people from playing in the presidential palace premises. A spokeswoman at Pokemon Co, which produced the title with Nintendo, said the game was designed for enjoyment and not to promote social ills. Pokemon Go has not been officially launched in the country of 250 million people - an enthusiastic adopter of social media apps - but tens of thousands of Indonesians are already getting it by using a proxy location on their smartphones that gives them access to app stores of other countries. "I will not stop playing unless the reason is realistic," said Mohammad Resja Ilham, a 24-year-old radio host who catches Pokemons on his way to work and back home, and up to five hours on weekends. "I can meet new people when I play, it's really fun." Businesses are also cashing in. Indonesian telecommunication service provider PT XL Axiata Tbk is offering a 20 per cent discount for certain 4G data packages to "take advantage of the Pokemon Go trend", spokeswoman Turina Farouk said. Last Saturday, Southeast Asian ride-hailing service Grab offered deals to Pokemon hunters who hopped on its vehicles to get to the National Monument in the Indonesian capital. "People are crazy about it now," said Ridzki Kramadibrata, Indonesia managing director for Grab. "I was there (the National Monument) myself and managed to catch some Pokemons." (Reuters)

Indonesia shrugs off Pokemon fatwa as gaming fever takes hold

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Islamic organisation in Indonesia declares fatwa against cryptocurrency; says it is against Sharia law

Indonesia shrugs off Pokemon fatwa as gaming fever takes hold