Daily Web3 Headlines You Need To Know
09 August #NFT #Developers #GameFi #DeFi&Trading #Policy&Law
🖼 NFT
CryptoPunk NFT to be split into thousands of pieces
CryptoPunk NFT被分成数千块
Nonfungible tokens (NFTs) continue to capture the imagination of the cryptocurrency space, with some of the most popular projects attracting hundreds of millions of dollars from investors. Projects such as CryptoPunks and the Bored Ape Yacht Club epitomize the exclusivity of the most lucrative collections, with each NFT far from accessible to the average investor…(Read More)
🔗 Developers
Ether’s Deepest ‘Backwardation’ Since 2020 Crash Shows Traders Prepping for Ethereum PoW Split
2020年以来，以太坊崩盘最严重的“现货溢价”显示交易员正在为PoW分裂做准备
Ether’s (ETH) futures market showed “backwardation” on Monday, with three-month contracts trading at the widest discount to the spot price since the coronavirus-induced crash of March 2020…(Read More)
👾 Game-Fi
Global crypto VC funding hits $30.3B in H1 2022, NFT gaming on a high
2022年上半年，全球加密风投数额达到303亿美元——NFT游戏处于高位
The cryptocurrency sector has raised $30.3 billion in funding in the first half of this financial year. The report from crypto analytics firm Messari and Dove metrics revealed this data. This amount will outpace the total funding of $30.2 billion received in 2021 despite the ongoing slowdown in the crypto market…(Read More)
📈 DeFi & Trading
Dormant Ethereum Supply Reaches All-Time High
休眠以太坊的供应达到历史最高水平
According to the data shared by Glassnode, an on-chain analytics platform, the ETH supply that was active almost 10 years ago touched an all-time high of 2.436 million on 8 August. In addition to ETH’s dormant supply, transaction fees (also known as the gas fees) on the Ethereum network are also plunging…(Read More)
Circle freezes blacklisted Tornado Cash smart contract addresses
Circle冻结了在其黑名单中的Tornado Cash智能合约地址
According to crypto data aggregator Dune Analytics, on Monday, Circle, the issuer of the USD Coin stablecoin (USDC), froze over 75,000 USDC worth of funds linked to the 44 Tornado Cash addresses sanctioned by the U.S. Office of Foreign Assets Control’s (OFAC) Specially Designated Nationals and Blocked Persons (SDN) list. Tornado Cash is a decentralized application, or dApp, used to obfuscate the trail of previous cryptocurrency transactions on the Ethereum blockchain…(Read More)
⚖️ Policy & Law
Dubai Forms a New Group (D2A2) To Strengthen and Promote the Digital Sector
迪拜成立了一个新的集团(D2A2)来加强和促进数字领域
Dubai Chamber of Digital Economy revealed the formation of the Dubai Digital Assets Business Group (D2A2). The role of the group is to strengthen and promote the digital asset sector within the UAE and across the Middle East…(Read More)
🔍 Learn
#Islam #Crypto
When the Middle East’s crypto development is in the spotlight, religious Muslims all across the world are bothered by the question, “Is cryptocurrency halal?” In fact, religious Muslims are arguing what their religion says about cryptocurrencies like bitcoin, dogecoin, and the rest. The subject of whether cryptocurrency payment platforms are considered to be halal or haram in the eyes of Allah and in accordance with Shariah principles, as well as whether or not it prevents money laundering, is of concern to Muslims around the Islamic world.
Cryptocurrency in Islam. The Islamic Shariah defines standard currency as something that elevates the status of money by widespread public recognition or through government order. The lack of a central authority, such as a government, that authorises or records bitcoin transactions is one of its distinguishing features, though. Islamically speaking, a business is not technically operating in a Sharia compliant manner if its assets do not really include a sufficient loss probability component.
In light of this, it may be clear why the majority of Muslims consider cryptocurrencies to be haram. Other Shariah scholars from the Middle East , such as Shaykh Haitham Al Haddad, who consider cryptocurrencies as high risk, agree with the Grand Mufti of Egypt, Shaykh Shawki Allam, that the cryptocurrency is haram.
They contend that cryptocurrency does not have enough trust as a medium of exchange to be considered to have enough credibility as a currency to be deemed to be halal, which is agreed by the Islamic scholars from Indonesia:
“Cryptocurrencies as commodities or digital assets are unlawful for trading because they have elements of uncertainty, wagering and harm,” Asrorun Niam Sholeh, head of religious decrees for the Indonesian council of Islamic scholars.
On the other hand, some Islamic scholars and jurists argue that cryptocurrencies are permissible under Islamic law since they are innately anti-interest when seen as a source or technique of making money.
It is important to remember that Islam lacks a central authority that may provide a definitive decision on cryptocurrency. There are scholars who publish publications, give lectures, and convene at universities or religious gatherings to debate this concern, but the Muslim community would always turn to the Sharia councils for advice. Hence, though the vast majority of experts hold that trading in cryptocurrencies is haram as they have no intrinsic worth nor yield any type of value, the question of whether crypto is halal or haram has not been answered by any legitimate government entity nor Sharia councils.
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