The 2021 NU Munas-Konbes takes up issue of cryptocurrency

Rab, 22 September 2021 | 14:31 WIB

The 2021 NU Munas-Konbes takes up issue of cryptocurrency

Cryptocurrency.(Photo: NU Online)

Jakarta, NU Online

The 2021 National Conference of Alim Ulama (Munas) and the Grand Conference (Konbes) of Nahdlatul Ulama will discuss the use of crypto currency in the perspective of Islamic jurisprudence (fiqh). The Coordinator of the Waqi'iyah Commission for the 2021 Munas-Konbes, H Mahbub Ma'afi, explained that this was based on the fact that it was increasingly being used by the world community, including Indonesia.


“Until June 2021, crypto investors have increased to 6.8 million investors, with a fantastic number of transactions of 429 trillion. It was in June," he told NU Online here Tuesday (22/9/2021).


According to Mahbub, this cryptocurrency needs to be studied more deeply. The reason is that the currency in force in Indonesia today is the Rupiah. Then, the Indonesian government and the Commodity Futures Trading Regulatory Agency (BAPPEBTI) regulating crypto, stated that crypto was not a currency but a commodity. In addition, it is also necessary to review the weaknesses of the crypto currency itself. Fluctuations are fast, bringing it needs to be studied to the core.


“At first what was created was money, but then it was considered a commodity. What the perspective of fiqh is. Then the second, we need to see another reality, its weaknesses. How do we need to address that? So, this price is not clear, it goes up and down quickly. This is how we deal with it. Of course, this is an important issue," the Deputy Secretary of the Bahtsul Masail Institute (LBM) of PBNU explained.


"We still need to do more studies. We can just take up it in the Munas forum. because this is a long issue and still needs a more serious study,” he added.


Cryptocurrency at a glance

Cryptocurrency is a digital-virtual currency that can be used to transact between users without the need to go through a third party (bank control). Besides being used as a transaction tool, it is widely used as an investment instrument.


The value of cryptocurrencies is entirely determined by supply and demand, and the voluntary acceptance by those who use them to transact. It does not refer to prices or specific commodities such as gold.


Cryptocurrencies have a database called blockchain. Blockchain is capable of managing lists of records and keeping records of transactions. Blockchain records every transaction activity in a system that works in a decentralized, valid one even minimal error.


Contributor: Nuriel Shiami Indiraphasa

Editor: Sudarto Murtaufiq