191. Bitcoin and Islamic Law with Muaawiyah Tucker
The Bitcoin Standard Podcast
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The Transition to Fiat Currency in Saudi Arabia: A Fatwa and its Legitimacy
This chapter explores the transition of Saudi Arabia from a silver-based currency to fiat currency, with a focus on the issuance of a fatwa to determine its legitimacy. It discusses the history of the hajj currency and its expansion beyond pilgrimage, the de-pegging of the currency, and the debates among scholars. The chapter also touches on the speakers' reflections on the nature of money and the unique characteristics of Bitcoin.
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