Someone familiar with the situation stated that the cost was below the $250 million that was spent on acquiring the custody firm Metaco back in May.
The prominent NFT project is on the verge of parting with a significant portion of its treasury as disillusioned investors prepare to make their exit.
Michael Barr, the head of the central bank's regulatory division, emphasized that the Federal Reserve is currently in the preliminary research stage and would require official legislation from Congress to formalize any action.
Some Islamic scholars view cryptocurrency as halal because they view it as a store of value or commodity. While other Islamic scholars deem it as non-halal (haram) because they don’t see it as a currency, its volatility in value, and lack of government regulation.
Mufti Taqi Usmani, the great Pakistani mufti and Islamic finance expert, is of the view that cryptocurrency is not permissible to trade in because of how speculative it is. He also adds that the push to move away from currencies that are not asset-backed (such as the move away from the gold standard to purely paper currencies) is not a good one.
It is noteworthy to point out that presently there is no consensus of opinion among Islamic scholars on whether cryptocurrency and peer-to-peer payment systems like bitcoin are Shariah-compliant. Instead, there is still an ongoing debate on this matter.
OneGram obtained a ruling that its cryptocurrency conforms with Islamic principles from Dubai-based Al Maali Consulting. It is one of dozens of advisory firms around the world that offer their opinion on whether financial instruments meet Islamic law standards.
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