11:21 - December 02, 2017
News ID: 3464581
TEHRAN (IQNA) – Turkey’s religious authority Diyanet said cryptocurrency use is not appropriate for Muslims.

 Turkey’s Diyanet Forbids Bitcoin Use

The Diyanet has jurisdiction "related to the beliefs, worship and morals of Islamic Religion, to enlighten the society about religion and to manage places of worship,” according to its website.

Cryptocurrencies such as bitcoin are "encrypted currency for each user, allowing direct commercial exchange between users without any central financial institution behind them,” the Diyanet said in a statement.

"In order for a currency to have a monetary value, it must either take its value in the state authority or have a unique value like gold. Virtual money, although used by some sectors as a means of exchange, cannot be regarded as money because it does not have the prestige and credibility that the state provides, and because there is no central financial institution behind it and it is not under government guarantee.”

The Diyanet statement concludes: "Moreover, it is not appropriate to buy or sell virtual moneys in the following stages, such as being open to speculation about losing or losing, being easily used for unauthorized work and transactions such as money laundering purposes, and being away from state supervision and oversight.”


Tags: IQNA ، Turkey ، bitcoin
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