I'm wondering if cryptocurrency is considered halal. Is it permissible under religious or moral guidelines to engage in transactions using digital currencies like
Bitcoin or Ethereum?
6 answers
Riccardo
Tue Nov 05 2024
The Council of Indonesian Ulama (MUI) and the Bahtsul Masail of East Java's Nahdlatul Ulama (NU) have issued statements regarding the legality of cryptocurrency and its transactions.
DigitalTreasureHunter
Tue Nov 05 2024
According to the MUI's 7th meeting, the use of cryptocurrency and its transactions are considered haram, which translates to forbidden or unlawful in Arabic.
Lucia
Tue Nov 05 2024
This ruling is based on the fact that cryptocurrency involves elements of gharar, which refers to unclear or speculative buying and selling activities.
NebulaChaser
Mon Nov 04 2024
Gharar is considered unacceptable in Islamic law because it involves uncertainty and risk, which can lead to unfair transactions.
Chiara
Mon Nov 04 2024
In addition to gharar, the MUI and Bahtsul Masail have also identified another issue with cryptocurrency: dharar.