Uzbekistan’s Fatwa Center refutes statement about inadmissibility of cryptocurrency trading

The statement banning the trade and exchange of cryptocurrency was published for technical reasons as a result of negligence, the Fatwa Center of the Muslim Board of Uzbekistan reported.

Earlier, the Fatwa Center, when asked about the attitude in Islam to trading in bitcoins, notcoins and other similar cryptocurrencies, answered that according to the fatwa, trading and exchanging cryptocurrencies is prohibited, since cryptocurrencies do not meet the Shariah requirements for money.

A rebuttal issued for this post states that the issue requires scientific research.

It is noted that the director of the Fatwa Center, Sheikh Nuriddin Kholiknazar, and his deputies are now on Hajj, “research work on the draft fatwa on cryptocurrency trading has not been completed”.

The center apologized and said the fatwa would be republished after the scientific research was completed.