London mosque becomes the UK’s first to accept cryptocurrency
The Shacklewell Lane Mosque, also referred to as Masjid Ramadan, has announced that it will accept donations in cryptocurrency.
The Shacklewell Lane Mosque, also referred to as Masjid Ramadan, has announced that it will accept donations in cryptocurrency.
The move would make the Hackney mosque in East London the first in the UK to take payments in digital currency.
The chairman of the Shacklewell Lane Mosque told the UK’s news publications about the move to accept both Bitcoin and Ether for donations. According to 51-year-old Erkin Guney, these contributions would be spent on structural repair work at the mosque, helping poor members of the community with funeral costs, and feeding less well-off Muslim families.
“It’s new money. It’s moving with the times. It’s no different from transferring money from the bank,” he said.
The mosque’s leaders have been advised about how the intricacies of using digital currency work by the founder of Combo Innovation, Gurmit Singh. Islamic finance is the focus of the London-based blockchain technology company.
