..

Egypt's Top Cleric: ‘Bitcoin Goes Against Sharia Law’

Written by:
Guest
Published on:
Jan/04/2018

Halal or not?  One of Egypt's top clerics has come out against the cryptocurrency Bitcoin, saying it's a “form of deception that falls under legal liability.”

Grand Mufti Shawki Allam, called Bitcoin trading “unlawful” under Sharia law, online publication Ahram reported this week.  Such remarks could stymie the cryptocurrency from taking hold in some Muslim-majority countries. 

From CoinTelegraph.com:

Back in February 2017, Cointelegraph spoke to several experts about Bitcoin’s status under Sharia law. Matthew Martin of Blossom Finance explained his belief that Bitcoin is halal, writing:

“As a payment network, Bitcoin is halal. In fact, Bitcoin goes beyond what more conventional closed banking networks offer. Unlike conventional bank networks which use private ledgers where there's no guarantee that the originator actually owns the underlying assets, Bitcoin guarantees with mathematical certainty that the originator of the transfer owns the underlying assets. Conventional banks operate using the principle of fractional reserve, which is prohibited in Islam.”

- Jagajeet Chiba, Gambling911.com

Business/Financial News

Three Important Features a Pay Per Head Should Offer

Three Important Features a Pay Per Head Should Offer

When selecting a Pay Per Head sportsbook software, there are three primary things to consider in addition to the required reporting, lines management and customer service component. 

BSV Network Attacked: CoinGeek Explains What Happened

BSV Network Attacked: CoinGeek Explains What Happened

The BSV Network has come under attack in recent weeks, more specifically June 24, 2021 and then again on July 1, 6 and 9.  This is likely to become a trend targetting all blockchain networks and crypto sites.

Powell Says a Fed Digital Currency Could Undercut Need for Cryptocurrencies

Powell Says a Fed Digital Currency Could Undercut Need for Cryptocurrencies

Federal Reserve Chair Jerome Powell on Wednesday said one of the stronger arguments for the U.S. central bank to set up a digital currency is that it could undercut the need for private alternatives such as cryptocurrencies and stablecoins.

Ethereum’s Virgil Griffith Violates Bail

Ethereum’s Virgil Griffith Violates Bail

Plus BSV a boon for advertising and affiliate marketing

What Should You Be Looking At When Choosing a Pay Per Head Service

What Should You Be Looking At When Choosing a Pay Per Head Service

Running a bookie is a challenge for some operators. As a result, they prefer hiring a licensed pay per head (PPH) company to manage key gambling operations and market their betting options. 

Syndicate