Indonesia bans cryptocurrency labelling it haram

Published

1 year ago

November 12, 2021

Religious leaders say the uncertainty and instability of the currency makes it akin to gambling

Indonesia has spoken out against using crypto assets as a currency.

The nation’s council of religious leaders has forbidden the use of crypto for Muslims, deeming it as haram or banned under Islamic law.

Head of religious decrees says the elements of uncertainty, wagering and harm make the currency incompatible with Islam…

But if crypto changes to abide by Shariah tenets and can show a clear benefit then Indonesia may reconsider the decision.

The country holds the world’s largest Muslim population with the finance ministry and central bank consulting first with a religious body to ensure Shariah compliance.

Celebrities busted over illegal crypto scheme

Published

2 days ago

March 24, 2023

ticker NEWS

Agreements have been settled without admitting guilt

Eight celebrities have been busted over allegations they’ve been participating in an illegal crypto scheme.

The stars, including Lindsay Lohan, Logan Paul and Soulja Boy, were all charged following an investigation by the U.S. Securities and Exchange Commission.

Lohan and Paul have reportedly settled the matter without admitting guilt.

But, regardless, it’s just another bad look for the already embattled crypto industry.

Crypto

Crypto fugitive Do Kwon arrested in Montenegro

Published

2 days ago

March 24, 2023

ticker NEWS

He was carrying falsified documents at an airport

One of the world’s most wanted crypto fugitives has been arrested in Montenegro.

It’s a long way from home for South Korean entrepreneur Do Kwon, who’s accused of orchestrating a multi-billion-dollar fraud scheme.

Kwon was connected to the TerraUSD stablecoin, which saw $40 billion erased from its holders.

He was reportedly arrested at an airport after carrying falsified documents.

It follows a red notice being issued by South Korea last September.

Crypto

SEC sues Jake Paul over paid crypto promotions

Published

3 days ago

March 23, 2023

ticker NEWS

The issue is linked to Tron founder Justin Sun

The U.S. Securities and Exchange Commission (SEC) is suing YouTube personality Jake Paul over a promotion of cryptocurrencies linked to Tron founder Justin Sun.

The SEC is accusing Paul of a paid promotion of assets without disclosing those payments to the public.

Other celebrities such as Lindsay Lohan, Ne-Yo and Akon and are also being investigated for their involvement.

Meanwhile, the SEC is going after Sun for potential fraud and market manipulation.