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Daily Digest | Not quite outlawed

Written by The Uptake Published on     1 min read

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Crypto and religious authority collide.

Heya. It’s Brady again.

You may have heard that Indonesia’s top body of Islamic scholars, the Indonesian Ulema Council, issued a fatwa against cryptocurrencies. This isn’t a legally binding statement, but it does impact the behaviors of people who may hold more conservative outlooks and defer to religious authorities.

Even though Indonesia is the most populous Muslim-majority country, it isn’t uniformly religious. In fact, many people in the country lead secular lives.

That’s all to say the fatwa has fallen flat. Naturally, those who are all-in on crypto have generous expectations, like Tokocrypto CEO Pang Xue Kai and Pintu CEO Timothius Martin. Khamila spoke to both of them. You can read her report here.

Daily Roundup

China’s new anti-monopoly bureau fines major tech enterprises for M&A deals.

China slams top influencers with largest ever tax fines amid livestream crackdown.

Paytm’s disastrous public listing weighs down upcoming fintech IPOs.

Grab poised for US listing as SPAC deal set for vote next week.

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