Fitch: Sharia disagreements fragment Islamic crypto market
- —Islamic scholars disagree on the permissibility of cryptocurrencies, with no unified rules
- —Malaysia is one of the few countries with a formal Sharia oversight system
- —Banks are cautious about direct participation in crypto assets
- —The same coin can be treated differently depending on the country
Why it matters: Fragmented rules hold back institutional crypto adoption in the Islamic world and create arbitrage between jurisdictions.
Source: Coin Edition