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Crypto currencies are on the rise. Many Indonesians love it.
Especially during the Covid-19 pandemic, crypto currencies have become an investment choice.
In fact, crypto currencies made in Indonesia have emerged.
In addition to the IDM crypto currency, other Indonesian crypto products are Bitconee and On Coin.
However, in the midst of enthusiastic hunting for cryptocurrencies, the Indonesian Ulema Council or Majelis Ulama Indonesia (MUI) actually forbids it.
In fact, apart from being used, the results of the Ijtima Ulama of the MUI Fatwa Commission stated that cryptocurrencies were illegal to record.
Chairman of the MUI Fatwa Commission Asrorun Niam Soleh said there were three legal dictums that explained that crypto was forbidden as currency.
Niam said, the result of the ulema's deliberation determined that the use of crypto currency as a legal currency is haram because it contains gharar and dharar and is contrary to Law number 7 of 2011 and Bank Indonesia Regulation number 17 of 2015.
Furthermore, crypto currency as a commodity or digital asset is also illegal to trade because it contains gharar, dharar, qimar.
"And it does not meet the syar'i sil'ah requirements, namely there is a physical form, has value, has value, property rights, and can be handed over to the buyer," said Niam, as quoted by Antara, November 11, 2021.
But for the type of crypto as a commodity or asset that qualifies as sil'ah and has a basis and has clear benefits, said Niam, it is legal to be traded.
Until now, the Indonesian government does not recognize crypto as a means of payment or as an alternative to using rupiah.
However, crypto trading is regulated by the Commodity Futures Trading Supervisory Agency (CoFTRA) of the Ministry of Trade in CoFTRA Regulation Number 2 of 2019 concerning the Implementation of the Physical Commodity Market on the Futures Exchange. ***
Source: various sources