Indonesia Declares Cryptocurrencies ‘Non-Halal’
Speaking Wednesday, Indonesia Deposit Insurance Agency chief Anggito Abimanyu said cryptocurrencies fail to meet Islamic legal standards because they lack formal religious approval and do not satisfy Sharia principles governing financial transactions, according to media.
“Crypto has not had any Sharia fatwa to this day. It has not complied with Sharia terms because it does not have an underlying [asset],” Anggito said.
He added that digital currencies do not meet the asset-backing requirements mandated under Islamic law.
“Cryptocurrencies are just about money circulating and turned into bitcoins. That’s why crypto is in the non-halal category,” he said while speaking on the business talk show Investor Daily Roundtable.
Under Islamic financial rules, transactions must be anchored to tangible assets in order to qualify as halal, or permissible. Without such backing — and absent a formal fatwa from the Indonesian Ulema Council — cryptocurrencies remain outside approved religious guidelines.
The remarks come despite a sharp rise in crypto trading activity across Indonesia. Cryptoasset transactions reached approximately Rp 482.23 trillion ($28.8 billion) in 2025, highlighting the growing popularity of digital tokens even as regulatory and religious clarity remains unresolved.
The Indonesian Ulema Council previously ruled in 2021 that the use of cryptocurrency as a currency is haram, citing uncertainty and the potential for harm.
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