ISTANBUL

Indonesia Deposit Insurance Agency chief Anggito Abimanyu said on Wednesday that cryptocurrencies fall into the "non-halal" category, according to local media reports.

Anggito explained that cryptocurrencies are considered non-halal due to the lack of any Sharia ruling confirming they comply with Islamic transaction principles, Jakarta Globe reported.

“Crypto has not had any Sharia fatwa to this day. It has not complied with Sharia terms because it does not have an underlying [asset],” Anggito said.

“Cryptocurrencies are just about money circulating and turned into bitcoins. That’s why crypto is in the non-halal category,” he said while speaking on the business talk show Investor Daily Roundtable.

Despite cryptoasset transactions reaching approximately Rp 482.23 trillion ($28.8 billion) in 2025, cryptocurrencies still lack a fatwa from the Indonesian Ulema Council.

Under Islamic law, transactions must be tied to tangible assets to be considered halal, or permissible, the report noted.

In 2021, the Indonesian Ulema Council termed the use of crypto as a currency haram (non-permissible) due to its uncertain and potentially harmful nature.