Research Paper Declares Bitcoin Compliant With Shariah Law

Bitcoin and cryptocurrencies are intriguing because they are very different from the traditional financial systems we use today. One particular subject people have pondered is whether or not bitcoin complies with the religious law that forms a part of Islamic tradition — otherwise known as Shariah Law. This week a microfinance firm based in Indonesia, Blossom Finance, published a 22-page working paper that concludes that “bitcoin qualifies as Islamic money, except where it is banned by...

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