HomeFinanceIndonesians Are Trying to Make Crypto Halal

Indonesians Are Trying to Make Crypto Halal


Cryptocurrency is booming in Indonesia, with millions of Indonesians looking to crypto investments as a way of making quick money after two years of pandemic-fueled economic decline. But in the world’s most populous Muslim country, religious authorities have spoken out against the risks of cryptocurrency, and declared crypto transactions against the rules of Islam.

We investigate the religious dilemma at the heart of crypto’s future in Indonesia, speaking with Islamic clerics, working class Indonesians attempting to use crypto to supplement reduced incomes, and a Sharia financial planner who champions the compatibility of Old Testament religion with this latest financial technology.

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