Tashkent, Uzbekistan (UzDaily.com) -- Trading cryptocurrencies, such as bitcoins and notcoins, is not approved by Sharia law in Islam, according to the Fatwa Center of the Muslims Board of Uzbekistan.

The Center emphasized that cryptocurrencies do not meet the requirements for money according to Sharia. They are not officially issued or recognized. In addition, the volatility of cryptocurrency prices and the presence of elements of gambling in them are also grounds for prohibiting their use.

The Center also noted that cryptocurrencies in the future may fully meet the requirements for goods and money as required by Sharia. After that, the judgment on the use of cryptocurrencies may change.

Thus, Muslims are advised to refrain from trading these assets until they become halal, the Center emphasizes.