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Egypt’s Grand Mufti issues fatwa against Bitcoin – Here’s what he says

CAIRO: Egypt's grand mufti has said that bitcoin is forbidden in Islam, warning the digital currency could be used for criminal purposes. Bitcoin, launched in 2009 and based on a peer-to-peer payment system, poses "high risks to individuals and states," Shawqi Allam said in a published ruling. It could provide "stable and secure financial resources for terrorists and criminal groups," said Allam, who acts as the country's official interpreter of Islamic law. Minting and issuing currency is an "absolute right" of…