Sulseltimes.com, Jakarta, Sabtu, 24/10/2026 — DSN MUI’s National Sharia Council says two crypto asset categories could be declared halal, focusing on Real World Assets and tokenised sharia‑based financial instruments.
- DSN MUI’s National Sharia Council outlines two crypto asset categories that could meet sharia requirements: Real World Assets (RWA) and tokenised sharia‑based financial instruments.
- Deputy Treasurer M Gunawan Yasni said RWA backed by tangible assets like gold or commercial property, and tokenised instruments such as Sukuk Negara Valas, are the most likely to be declared halal.
- Tokenisation of Sukuk Negara Valas is being coordinated by OJK and the Finance Ministry’s DJPPR to break high‑value bonds into small digital units for broader public access.
- DSN MUI stresses that a halal crypto product needs a supporting ecosystem, including a Self‑Regulatory Organization (SRO) framework, custodian (KSEI) and clearing guarantee (KPEI) similar to the Indonesia Stock Exchange.
- The council has drafted internal studies for a sharia fatwa on crypto assets but is awaiting a formal request from OJK, the regulator that took over oversight from Bappebti in early 2025.
Two categories identified as most likely to be halal
Real World Assets (RWA) are crypto assets directly backed by physical assets with economic value and halal status, such as gold commodities or commercial buildings that operate in compliance with sharia principles.
“Kalau boleh saya, ini bukan bocoran, tapi yang sangat mungkin disyariahkan itu adalah Real World Asset (RWA). Lalu yang kedua, selain Real World Asset, ada yang namanya tokenisasi dari instrumen keuangan yang sudah berdasarkan prinsip syariah,” kata M Gunawan Yasni, Deputy Treasurer DSN MUI, Sabtu, 24/10/2026, at the Ijtima Sanawi XXII DSN MUI held at Hotel Mercure Harmoni, Central Jakarta, last Wednesday.
Tokenised sharia‑based financial instruments include Sukuk Negara Valas, a foreign‑currency state sukuk that is being coordinated by OJK and the Finance Ministry’s DJPPR for tokenisation to make high‑value bonds accessible to the public.
DSN MUI stresses that halal certification for crypto products does not stand alone. The market must follow a Self‑Regulatory Organization (SRO) standard, have a custodian such as KSEI and a clearing guarantee such as KPEI, mirroring the framework of the Indonesia Stock Exchange.
The council has prepared internal drafts and studies for a sharia fatwa on crypto assets. However, the process still awaits a formal request from OJK, the regulator that assumed oversight from Bappebti at the start of 2025.
Requirements for a sharia‑compliant crypto market
DSN MUI requires that any crypto asset deemed halal must be supported by a robust ecosystem, including clear underlying assets, transparent ownership, and established trading mechanisms akin to conventional capital markets.
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