Islamic Ruling on Bitcoin and Cryptocurrency Explained

Описание: Bitcoin and other cryptocurrencies have become widely discussed financial innovations in the modern world. As Muslims seek to align their financial activities with Islamic principles, an important question arises: what is the Islamic ruling on Bitcoin and cryptocurrency? Scholars have examined this issue carefully, and as with many contemporary matters, there is a difference of opinion.

Some scholars consider Bitcoin and cryptocurrencies permissible (halal) under certain conditions. They argue that cryptocurrency functions as a form of digital asset or medium of exchange, is accepted by people, holds value, and can be treated as maal (valuable property) in Islamic law. From this perspective, buying, selling, or holding cryptocurrency may be allowed if it is free from riba (interest), gharar (excessive uncertainty), fraud, and unlawful activities. Long-term investment and lawful transactions are often emphasized as key conditions.

On the other hand, some scholars view cryptocurrency as impermissible (haram) due to concerns about extreme price volatility, speculation resembling gambling (maysir), lack of intrinsic value, and the absence of government backing. They argue that these factors introduce excessive uncertainty and financial harm, which Islam seeks to prevent.

Many contemporary scholars take a middle position, stating that cryptocurrency itself is not inherently haram, but how it is used determines its ruling. Activities such as day trading, leverage trading, interest-based crypto lending, or investing in prohibited projects would be impermissible, while cautious, transparent, and lawful use may be allowed.

Ultimately, Muslims are encouraged to seek knowledge, avoid doubtful matters, and consult qualified scholars who understand both Shariah and modern finance. The ruling on Bitcoin and cryptocurrency depends on intention, method of use, and adherence to Islamic ethical guidelines.