Who knew Crypto had to be Shariah Compliant for Muslims to use?
So long as that’s true throughout the Muslim World, a huge amount of potential users came online.
According to The Atlantic in 2013, The Chinese were 1/5 of the world’s population.
There are, as everyone knows, a lot of people in China; around 1.35 billion of them, or roughly 20 percent of the world’s population, live within the country’s borders.
As it so happens, the Muslim population of the world is also 1/5.
WorldCoinIndex.com reported reported the development in the Muslim Market on April the 13th:
An Indonesian-based startup known as Blossom Finance has launched a report authored by the firm’s internal advisor on Sharia laws which concludes that the virtual currency Bitcoin (BTC) is compliant with Islamic law. The declaration by the Islamic scholar could make the cryptocurrency more attractive to Muslim investors as they has previously been no clarity on whether digital coins qualify as money as. Currently Muslims are more than a fifth of the global population.
Depending on regulations in the various Muslim Countries, this bodes well.
I you recall, our current Bear Market began back around the New Year in part because of Chinese and S. Korean regulation.
Alternatively, hopefully a fully Globalized Crypto Market doesn’t lead to a Globally Regulated Crypto Market…