Religious ban on cryptocurrencies prompts accusations on social media in Ingushetia

The decision by a leading religious authority in Ingushetia to ban the use of cryptocurrency sparked controversy in the Muslim-majority Russian republic. Critics reached out to social media to voice their dispute over the ban, stating that the bitcoin treatment is not one-sided in Islamic jurisdictions. Islamic cleric explains the rationale behind the cryptocurrency ban At a meeting in mid-April, the Alims Ingush Council approved a ban on the purchase and sale of cryptocurrencies by Muslims in the country. Muslim clerics of the time said that they made the decision after examining Islamic sources and seeing that the religion prohibited electronic money trading. Its vice president, Mufti Magomed Hashtyrov, has since had to explain the council's position. He told the local newspaper Ingushetia this week that cryptocurrencies as a means of payment have no physical representation and that their swap is different from trading goods in a physical market. The second is not forbidden for Muslims. The theologian revealed that the council stepped in to resolve cryptocurrency disputes even among clergy in one case, and stated that only honest labor brings people together and virtual easy money argues with them. Hashtyrov later insisted that “cryptocurrency is neither money nor commodity at the moment. If it becomes public, if it becomes legally accepted means of payment with a state guarantee, then we can talk about money, but not today, ”Ingushetia said. Instagram Users Respond to the Unfounded Ban of Crypto Trading in Ingushetia The newspaper shared the article with Hashtyrov's comments on Instagram, and according to the responses, not everyone agrees with his comments. As reported by the Caucasus Node Portal, Ingushi have stated that their country has more pressing problems than banning crypto transactions. "There are many problems in the republic

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