JAKARTA - The Financial Services Authority (OJK) stated that until now the discussion regarding the status of the suitability of crypto assets with Sharia principles has not produced a final decision.
Discussions are still being carried out with the National Sharia Council of the Indonesian Ulema Council (DSN-MUI) and require in-depth study before the determination of official policies.
Responding to the uncertainty of Sharia regulations, Tokocrypto CEO, Calvin Kizana, stated that the crypto asset market is always open for dialogue and scientific studies.
"We respect the ongoing discussion process and are ready to support any effort to clarify regulations that provide certainty to all parties, especially Muslim investors who want to ensure that their investments are in accordance with Sharia principles," said Calvin.
He added that education and transparency of information are important so that the public can make the right investment decisions.
Calvin explained that in some Muslim-majority countries, such as Malaysia, and global jurisdictions have begun to develop frameworks to assess crypto from a Sharia perspective.
According to him, the Shariah Advisory Council of the Securities Commission of Malaysia has identified a number of cryptocurrencies that are considered sharia-compliant, and the country even allows staking activities on several digital assets with sharia certification.
Even in the United Arab Emirates, crypto industry players are working with Islamic financial institutions to develop products designed according to Sharia principles.
"This global profile shows that the debate on sharia and digital technology is not only happening in Indonesia, but also in other countries that are trying to balance technological innovation with Islamic financial values," he said.
Even so, Calvin said his party supports a comprehensive study process so that the public gets a responsible clarity.
"Discussion of the sharia status of crypto assets indeed needs to be carried out carefully and based on studies. Most importantly, the public gets complete information and does not rush to draw conclusions, because the decisions that are produced will later become a reference for many people," he concluded.
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