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Islamic law

Bitcoin declared ‘halal’ under Islamic law

An Islamic scholar has declared bitcoin ‘halal’ under Sharia Law, contradicting earlier ‘edicts’ that insisted the popular cryptocurrency is forbidden in the religion. The new statement has appeared in the publication of the study into whether bitcoin is halal or haram preceded unprecedented price gains for bitcoin, which saw it’s value surge by more than $1,000 in less than an hour. This has led some analysts to speculate that news of bitcoin’s Sharia law compliance may have contributed to the price surge. The study,…