Muslims are forbidden from using crypto, Indonesia’s council of religious leaders has declared, Bloomberg reported on Thursday.Crypto is forbidden due to the elements of uncertainty and wagering, Indonesia’s authority on Shariah compliance, the National Ulema Council (MUI), announced following a hearing.Asrorun Niam Soleh, head of religious decrees, added that a crypto could be … [Read more...] about Indonesia’s Religious Leaders Declare Crypto Illegal for Muslims: Report
Illegal
Chinese province sounds fresh alarm on ‘illegal’ crypto schemes
China’s Hainan province issued a fresh warning about illegal crypto schemes yesterday, adding to what is an ongoing campaign against the growth of the industry in the region.Fresh round of crypto FUDFinancial regulators, as per Reuters, in China’s southern Hainan region cautioned investors against illegal fundraising schemes involving cryptocurrency and blockchain. They used … [Read more...] about Chinese province sounds fresh alarm on ‘illegal’ crypto schemes
Crypto bets via Bitcoin, Ethereum, XRP are fueling illegal gambling in Asia
The acceptance of top cryptocurrencies like Bitcoin, Ethereum, and XRP on gambling sites are part of the reason why illegal online gambling is rising in Asia, a report from the Asian Racing Federation (ARF) said earlier this week.Macau’s famed ‘junkets’—businesses that act as middlemen for Chinese high-rollers who make up half the city’s gambling revenue—are said to be using … [Read more...] about Crypto bets via Bitcoin, Ethereum, XRP are fueling illegal gambling in Asia
Police drone finds illegal Bitcoin mine while searching for weed farm
In a bizarre case, UK police busted an illegal Bitcoin mining operation while trying to weed out cannabis operations, local daily Birmingham Live reported today. Over 100 mining rigs were found by the police.Out for weed, back with BitcoinThe cops were using a drone with an attached heat camera to scout out a location suspected to be running a full-fledged cannabis firm. They … [Read more...] about Police drone finds illegal Bitcoin mine while searching for weed farm
Illegal coal extraction in China spurred Bitcoin mining ban
Rising cases of illicit coal extraction played a part in the recent Bitcoin mining ban in China, a report on business outlet Bloomberg said today. An estimated 65% of the world’s Bitcoin mining took place in China as of April last year.Climate warriorOfficials of the country said last week they would target and ‘ban’ miners after rising energy and climatic concerns amidst … [Read more...] about Illegal coal extraction in China spurred Bitcoin mining ban