At a summit attended by leaders of Muslim countries, including Malaysia, Turkey, Iran, Qatar, and Indonesia, the Iranian president proposed creating a Muslim cryptocurrency to cut reliance on the U.S. dollar. The Malaysian prime minister supports the idea of a unified cryptocurrency for Muslim countries.

Also read: Regulatory Roundup: Crypto ‘Inevitable’ in India, China Rankings, NY Streamlines Policy

Unified Muslim Cryptocurrency

Malaysian Prime Minister Mahathir Mohamad, Iranian President Hassan Rouhani, and Turkish President Recep Tayyip Erdogan discussed the prospect of creating a unified cryptocurrency for Muslim countries on Thursday. The discussion took place at the “Kuala Lumpur Summit 2019,” a four-day event which started on Wednesday.

Leaders from countries such as Malaysia, Turkey, Iran, Qatar, and Indonesia attended the summit. They aim to “discuss and find new solutions to problems facing the Muslim world as well as to improve the wellbeing of Muslims and Muslim countries in general,” the official website of the Prime…

Click to continue reading on its source location…