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Treasury Official Confirms Crypto Isn’t a Popular Tool for Terrorists — Says They ‘Prefer Traditional Products’
16.2.2024
U.S. Department of the Treasury’s Under Secretary Brian E. Nelson has confirmed that terrorists’ use of crypto remains a small fraction of more established mechanisms to move money. He also admitted that “digital assets were not even a popular tool for Hamas or the Palestinian Islamic...
UAE Virtual Assets Regulator Says Islamic Coin Issuer Has ‘Cooperated Fully’
25.11.2023
Bored Gen DMCC, the issuer of islamic coin, has cooperated fully with the Virtual Assets Regulatory Authority’s ongoing investigation into the token’s issuance and distribution. Bored Gen, however, still needs to “secure appropriate approvals” before it undertakes...
Wall Street Journal corrects article misciting Hamas' crypto terrorism funding data
28.10.2023
Elliptic, the firm which Wall Street Journal sourced the data from, said it was “pleased” to see the news outlet acknowledge its mistakes
Crypto donations raised by Hamas ‘remain tiny,’ says Elliptic
26.10.2023
Elliptic’s statement was framed as a rebuttal to recent articles and letters circulating among the media and U.S. lawmakers this month
Crypto’s Role in Terrorism Financing Overestimated, Chainalysis Shows
20.10.2023
Inaccurate methodologies have resulted in overstated metrics about the use of cryptocurrency by terror groups fighting Israel, according to Chainalysis. The analytics company has tried to “correct the record” on crypto’s role in terrorism financing amid ongoing hostilities in the Middle East....
Russian Crypto Exchange Moves Money for Gaza Groups, Report
16.10.2023
Palestinian militant organizations, including a Hamas-linked Islamist group, have been using a Moscow-based crypto exchange to transfer millions, a press report revealed. The U.S.-sanctioned platform, which allows customers to convert Russian cash to crypto and then withdraw fiat abroad, has been...
Dubai Regulator Halts Sale and Distribution of Islamic Coin – What's Going On?
6.10.2023
The Dubai Virtual Assets Regulatory Authority (VARA) has taken action against Bored Gen DMCC (BG), a company involved in the distribution and marketing of Islamic coin (ISLM).
According to a VARA alert published on Wednesday, BG lacks the necessary authority to conduct the type of crypto-related...
Dubai Regulator Blocks the Sale and Distribution of Islamic Coin
6.10.2023
Dubai’s Virtual Assets Regulatory Authority (VARA) recently said the company distributing and marketing islamic coin (ISLM) lacks the authority to do so. VARA said Bored Gen DMCC must cease marketing activity until it obtains the appropriate approvals. The steps taken by the regulator came...
Islamic Coin Launches Public Offering of Tokens – Here's What You Need to Know
19.9.2023
Islamic Coin, a digital currency that aims to Shariah principles and promote ethical values, has initiated its Reg D Token Offering to the public in collaboration with OpenDeal Broker, a subsidiary of Republic.
In a Monday press release, Islamic Coin said it has partnered with Republic to support...
Islamic Coin in Pact With CoinDesk Indices to Discuss Sharia-Compliant Benchmarks
14.9.2023
Islamic Coin is the native currency of HAQQ, a network focused on developing a Shariah-compliant financial ecosystem
‘Islamic Coin’s Legitimacy as a Sharia-Compliant Cryptocurrency Is Proven by Its Fatwa’ — Co-Founder
10.9.2023
According to Mohammed AlKaff AlHashmi, the co-founder of “Islamic Coin,” Muslim scholars will increasingly view cryptocurrencies as being “Shariah-compliant” if they function as a store of value or are used as a medium of exchange. Alhashmi added that Islam’s...
Sharia-Compliant Islamic Coin Secures $200 Million in Funding From ABO Digital
29.6.2023
Islamic coin, a Sharia-compliant crypto asset, has secured $200 million from ABO Digital, which brings to $400 million the total funding that the project has received. The latest capital raise is expected to give the crypto project access to funding of up to $200 million as well as to ensure that...
Russia ‘Actively’ Working on SWIFT Alternatives, Foreign Ministry Official Says
22.5.2023
The Russian Federation is collaborating with partners to link payment systems alternative to the interbank messaging system SWIFT, a representative of the country’s Ministry of Foreign Affairs announced. The work is part of the de-dollarization of the economy, the official indicated. Russia Seeking...
Russia Involved in De-Dollarization Talks With the Islamic World to Create Independent Financial System
21.5.2023
Russia and the Islamic world are currently discussing how to deepen the de-dollarization agenda to create a new financial system. According to statements from Russian Deputy Prime Minister Alexey Overchuk, these topics are inscribed in broader deglobalization talks, and the Russian government...
DeFi platform sees strong interest in halal-approved crypto products
20.9.2022
Navigating crypto is made more difficult for those with religious considerations and the founder of an Islamic law compliant DeFi platform has thousands of users seeking approved cryptocurrencies
Report: Terror Groups Using South African Financial System to Move Funds
28.7.2022
Sympathizers of the terror group, the Islamic State (IS) are allegedly using South Africa’s financial system to channel funds to the group’s affiliates and networks in Africa. The United States government has so far sanctioned four South Africa-based individuals it accused...
Iran Orders Crypto Miners to Halt Operations to Prevent Winter Blackouts
26.12.2021
Authorities in Iran have again told licensed miners to suspend their activities in the face of electricity shortages during the cold winter months. Following a period of similar restrictions this past summer, authorized companies were allowed to resume mining in September. Crypto Mining Farms...
Indonesia’s Islamic Authority Declares Cryptocurrency Haram, Forbidden for Muslims
11.11.2021
Indonesia’s top Islamic body, the country’s authority on Shariah compliance, has reportedly declared cryptocurrency haram, forbidden for Muslims under Islamic law. The Indonesian Ulema Council explained that crypto has elements of uncertainty, wagering, and harm. Cryptocurrency...
Iran Continues Crackdown on Illegal Crypto Mining, Seizes Hundreds of Mining Rigs
10.11.2021
Authorities in Iran persist with their efforts to curb unauthorized cryptocurrency mining. The state-run power distribution company has recently identified over a dozen underground crypto farms in Tehran and other regions, unplugging hundreds of mining units illegally connected to the grid. Power...
Up to 12 Million Iranians Own Cryptocurrency, Traders Choose Local Exchanges
1.11.2021
Cryptocurrencies are a popular investment among Iranians and estimates suggest that the number of those who already own one coin or another may be as high as 12 million. The majority of Iranian traders prefer the services of local crypto exchanges, the chief executive of one of them claims....