DSN MUI Encourages Sharia-Compliant Crypto Based on Real-World Assets

Jakarta (ANTARA) - The National Sharia Council of the Indonesian Ulema Council (DSN MUI) is encouraging the development of sharia-compliant crypto assets that have a basis in real-world assets (RWA) such as gold or other commodities, deeming them to meet legitimate sharia criteria.

Gunawan Yasni, Deputy General Treasurer of DSN MUI, stated that real assets like gold and sukuk instruments have the potential to be tokenised using blockchain technology, provided they adhere to sharia principles and have a clear transaction mechanism.

“The closest thing to a crypto asset is a real world asset (RWA). If gold is a sil’ah or commodity, it can very well be made into a blockchain-based tokenisation of gold or a crypto asset,” Gunawan said at the Indonesia Blockchain Week 2026 in Jakarta on Wednesday.

Gunawan noted that developing sharia-compliant crypto with real-world assets could expand the use of blockchain technology within the sharia financial ecosystem. He added that the development of sharia-based digital assets has the potential to create new instruments in the digital economy, especially if the tokenised assets have clear and accountable underlying assets.

Similar opportunities also exist for sukuk instruments. Both state sukuk and corporate sukuk, including those with affordable investment values for the public, could be tokenised to become part of the digital asset ecosystem.

“There are already many sukuk products, state sukuk, corporate sukuk, including retail ones. If broken down, they can use a tokenisation process that becomes the basis for blockchain or crypto assets,” he said.

Gunawan emphasised that developing sharia crypto is not just about the type of asset used as the underlying. The transaction mechanisms, administration, and recording systems must also comply with sharia principles. To this end, DSN MUI, together with the Financial Services Authority (OJK), is working to prepare the ecosystem, using the existing stock exchange and capital market infrastructure as a benchmark for trading mechanisms and clearing processes.

He added that discussions regarding a fatwa on crypto assets will be deepened in October.