Uzbekistan’s highest Islamic authority has taken back the fatwa it issued against cryptocurrencies, admitting that it was a mistake and apologizing for the misinformation. The fatwa, which had declared cryptocurrency trading as against Sharia law, was issued due to an oversight and was mistakenly released on social media. In a statement titled “Correction and Apologies,” the Fatwa Center explained that the research on this particular fatwa is still ongoing and that extensive studies are being conducted on contemporary issues. It pledged to complete the scientific research and revisit the fatwa in due course. The initial argument made by the Fatwa Center was that the unpredictable prices and associations with gambling in the cryptocurrency market contradicted Islamic principles.
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Uzbekistan’s Islamic Authority Retracts Fatwa Against Cryptocurrency, Issues Apology
