Blockchain
The Indonesian Blockchain Association Positively Welcomes Bahtsul Masail’s (Discussion Forum Among Islamic Scholars) Response to Justify Crypto Assets Trading
Asosiasi Blockchain Indonesia (The Indonesian Blockchain Association) is Indonesia’s official blockchain and digital asset association. The growth of the crypto asset industry in Indonesia is currently showing a quite drastic increase in transactions, the Minister of Trade, Muhammad Luthfi said last year the trading volume of crypto assets was only Rp. 65 trillion, but in 2021, for the first five months only, crypto asset transactions reached Rp. 370 trillion. Until now, there are still many questions from related parties regarding crypto asset transactions from the perspective of Islamic law which is currently starting to attract public attention.
Yenny Wahid, founder of the Islamic Law Firm (ILF) and Director of the Wahid Foundation, initiated the Bahtsul Masail (Discussion Forum Among Islamic Scholars) activity to discuss halal and haram crypto transactions. Quoted from https://www.nu.or.id/, Yenny Wahid explained about crypto assets which are considered halal by some parties because the crypto asset system as a medium of exchange is actually more free from usury than fiat money and conventional banks, with a blockchain system, transactions occur peer-to-peer without intermediaries. Some parties also argue that crypto assets can be said to be halal as long as they are not prohibited by the state or government.
The ILF presented a number of scholars in the Bahtsul Masail which was held virtually on Saturday (19/6), including the caretaker of the Sukorejo Islamic boarding school KH Afifuddin Muhajir, the caretaker of the Al-Anwar Sarang Islamic boarding school KH Abdul Ghofur Maimun, the Deputy Chairperson of the PBNU LBM KH Abdul Moqsith Ghazali, and KH Asyhar Kholil and Habib Ali Bahar. Also present were general speakers who are competent in their fields, including the Head of the Commodity Futures Trading Supervisory Agency (BAPPEBTI) Indrasari Wisnu Wardhana, the Indonesia Stock Exchange – Pandu Patria Sjahrir, Founder and CEO of PT Pintu Kemana Saja – Jeth Soetoyo, and Co-Founder and CEO Indodax – Oscar Darmawan.
Bahtsul Masail produced several discussions regarding the halalness of crypto asset transactions, including: (1) crypto assets are wealth (mal) according to fiqh, so the crypto assets being discussed with Bahtsul Masail are assets in fiqh review. The definition is that if this property is stolen, the theft must be sanctioned, if it is damaged, it must be replaced, (2) because it is wealth, it is valid to exchange it as long as there is no gharar (uncertainty). Why was it decided that way? Because there is a difference in perspective between Musyawirin (former scholars) whether crypto asset transactions occur gharar or not. Some say crypto assets occur gharar, others say crypto assets do not occur gharar. The nature of this gharar is still debated, this is because each individual sees it from their own perspective. Nevertheless, the scholars of Bahtsul Masail agree that crypto transactions must not have gharar, it’s just that the scholars have different opinions regarding this. So, if it is said that in crypto assets there is gharar, then that is not allowed. For those who say that there is no gharar, as also supported by the cleric Bahtsul Masail, crypto assets may be exchanged, (3) The informants urge the public not to make this transaction carelessly if they do not have knowledge of crypto assets, (4) The informants encourage the government to immediately make strong regulations and strengthen guarantees to avoid misuse and irregularities in crypto transactions.
Indodax as one of the Start-Up bitcoin and crypto exchanges and as a member of the Indonesian Blockchain Association represented by the CEO of Indodax, Oscar Darmawan positively welcomed Bahtsul Masail regarding Halal Haram Crypto Transactions, Oscar hopes that Bahtsul Masail’s recommendation is to allow the trading of crypto assets legally Islam can be an input for policymakers in Indonesia. Because according to him, crypto assets already have a legal basis, namely regulations, and are supervised by the Ministry of Trade and the Commodity Futures Trading Supervisory Agency (BAPPEBTI).
Blockchain
Blocks & Headlines: Today in Blockchain – April 23, 2025 – EDPB, Binance, MicroCloud, Nile Coin, TruaBroker
Welcome to Blocks & Headlines, your daily op-ed–style briefing on the most significant developments in blockchain technology and the cryptocurrency industry. Today’s dispatch spotlights landmark privacy guidelines from the European Data Protection Board, Malaysia’s engagement with Binance’s founder to turbocharge digital finance, a groundbreaking blockchain reconstruction solution from MicroCloud Hologram, the impending launch of Nile Coin on Solana by Hyperscale Data’s subsidiary BitNile.com, and Trua’s AI-driven TruaBroker compliance platform. These stories underscore how regulation, infrastructure innovation, token launches, and compliance automation are shaping Web3’s next chapter.
1. EU’s Privacy Guardrails: EDPB Proposes Blockchain Data Access Guidelines
Source: Decrypt
The European Data Protection Board (EDPB) has published draft guidelines aimed at reconciling blockchain’s immutable architecture with GDPR’s privacy mandates. Key directives include avoiding on-chain storage of personal data when it conflicts with Data Protection by Design and by Default, conducting Data Protection Impact Assessments (DPIAs) for high-risk processing, and implementing organizational and technical measures to limit default data access to an “indefinite number of persons” Decrypt.
Op-Ed Insight:These guidelines mark a pivotal moment. By mandating privacy-by-design and off-chain anchoring of sensitive information, the EDPB effectively pressures projects to adopt hybrid architectures—where on-chain transparency coexists with off-chain confidentiality. While defenders of pure decentralization decry potential censorship, privacy advocates hail these guardrails as essential to prevent authoritarian misuse of immutable ledgers. Ultimately, projects that bake data protection into their smart contracts and storage layers will secure both regulatory compliance and user trust.
2. Malaysia Taps Binance’s CZ for a Blockchain Finance Overhaul
Source: Bitcoin News
Malaysian Prime Minister Anwar Ibrahim has initiated high-level discussions with Changpeng Zhao (CZ), Binance’s founder and former CEO, to position Malaysia as Southeast Asia’s preeminent hub for tokenization and digital finance. The dialogue focuses on leveraging blockchain to modernize capital markets, streamline cross-border payments, and foster regulatory sandboxes that attract global Web3 startups Beamstart.
Op-Ed Insight: Engaging CZ signals Malaysia’s ambition to leapfrog legacy financial architectures by importing Binance’s exchange expertise and compliance playbooks. Yet success hinges on crafting balanced regulations that encourage innovation without compromising investor protection. If Malaysia can marry CZ’s technical insights with proactive oversight—such as clear licensing pathways for decentralized exchanges—it could catalyze a shift in regional capital flows from traditional finance hubs like Singapore to Kuala Lumpur.
3. MicroCloud Hologram’s VSS-Powered Blockchain Reconstruction Solution
Source: PR Newswire
MicroCloud Hologram Inc. (NASDAQ: HOLO) unveiled an innovative blockchain reconstruction solution that employs Verifiable Secret Sharing (VSS) technology to split and distribute private key shares across distributed nodes. Four core components—VSS-based key sharding, redundant node storage, dynamic participant verification, and incentive-driven reward/penalty mechanisms—enable rapid, trustless restoration of blockchain data integrity following attacks or node failures PR Newswire.
Op-Ed Insight: As DeFi and on-chain finance proliferate, uninterrupted availability and data consistency have become paramount. MicroCloud’s VSS approach transforms reconstruction from a centralized recovery process into a decentralized protocol, minimizing reliance on any single custodian. This paradigm could redefine disaster-recovery benchmarks: imagine an exploited smart contract whose state is instantly rebuilt through pre-sharded secrets, preserving transactional continuity without manual key escrow.
4. BitNile.com to Launch Nile Coin on Solana Blockchain
Source: GlobeNewswire
Hyperscale Data, Inc. (NYSE American: GPUS) announced that its social gaming subsidiary BitNile.com will launch Nile Coin on Solana on May 1, 2025. Solana’s high throughput and low fees position it as an optimal platform for BitNile’s gaming ecosystems, where Nile Coin will fuel in-game economies, reward completions, and facilitate peer-to-peer transactions. Further details on tokenomics and utility are expected in the coming weeks GlobeNewswire.
Op-Ed Insight: While new token launches are ubiquitous, Nile Coin’s Solana-native design leverages one of the fastest blockchains for scalable micro-transactions—a critical requirement for social gaming. Success will depend on robust token utility, partnership integrations, and community incentives. If BitNile.com can embed Nile Coin across multiple entertainment verticals (e-sports, virtual concerts, NFTs), it could ignite a network-effect flywheel, bolstering both user engagement and on-chain liquidity.
5. TruaBroker: Automating Compliance with AI-Powered Trust Credentials
Source: PR Newswire (via Benzinga)
Trua, a leader in digital trust credentials, launched TruaBroker
, a cloud-based platform that automates compliance for broker-dealers and Registered Investment Advisors. Built on Trua’s patented Continuous Evaluation engine, TruaBroker delivers real-time monitoring of FINRA, SEC, and NFA records; identity verification; and continuous credential checks—all without IT integration. Its AI algorithms flag licensing gaps, disciplinary histories, and civil actions, enabling firms to maintain audit readiness and mitigate risk proactively Benzinga.
Op-Ed Insight: In an era when on-chain transactions intersect with regulated financial activities, seamless compliance is non-negotiable. TruaBroker’s model—issuing reusable, verifiable digital credentials anchored by blockchain—offers a blueprint for how KYC/AML processes can evolve into dynamic, trustless workflows. As DeFi platforms eye tokenized securities and on-ramps, integrating similar continuous-evaluation mechanics could become a competitive differentiator, blending self-sovereign identity with regulatory assurance.
Conclusion
Today’s headlines illustrate blockchain’s multifaceted evolution: from regulatory frameworks enforcing privacy and consumer rights, to infrastructure innovations that ensure resilience; from national strategies enlisting industry titans to drive tokenization, to platform launches forging new digital economies; and from compliance automation transforming institutional trust to AI-powered credentialing.
As the space matures, successful projects will be those that:
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Embed privacy and compliance by design—aligning with GDPR and global regulations.
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Invest in self-healing architectures—leveraging cryptographic primitives like VSS.
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Cultivate vibrant token ecosystems—anchored on high-performance chains.
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Adopt continuous, AI-driven governance—bridging the gap between Web3 innovation and traditional financial oversight.
Stay tuned to Blocks & Headlines for incisive commentary and daily updates on the blockchain stories that shape tomorrow’s decentralized future.
The post Blocks & Headlines: Today in Blockchain – April 23, 2025 – EDPB, Binance, MicroCloud, Nile Coin, TruaBroker appeared first on News, Events, Advertising Options.
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