Egypt’s Dar Al Iftaa have issued an Islamic Ruling (Fatwa) which expressly forbids using Bitcoin as a means of exchange on religious grounds. According to multiple government ministers, the cryptocurrency threatens the economy, funds terrorism, and because it lacks set rules, it is “considered as a contract annulment in Islam”. These factors have influenced the decision by the government body concerned with ensuring that legislation is inline with religious creed within the nation of Egypt.
