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+--- Thread: The ruling on mining electronic currencies (/showthread.php?tid=30710)
The ruling on mining electronic currencies - doaausef3li - 09-25-2024
Mining electronic currencies such as Bitcoin and others is the process of verifying transactions that take place via blockchain technology. Bitcoin miners who verify the success of these transactions provide services to users. In addition to providing a level of security for the blockchain network. They are then rewarded for these efforts. Therefore, this matter is not suspected of being haram. However, Bitcoin itself is the subject of scholarly debate. This is for two main reasons:
حكم تجارة العملات الالكترونية بالعراق
The first is that Bitcoin and other electronic currencies are not legally supported by governments. Therefore, all aspects of these currencies, including Bitcoin mining and others, are haram due to the lack of government legislation for them.
The second is that the process of Bitcoin mining consumes a lot of energy and resources, which harms the environment and does not benefit society, and therefore it is haram.
Accordingly, the ruling on trading in electronic currencies in Iraq is haram by consensus of scholars as long as the state has not officially and legally permitted it. This is one of the most important conditions for the permissibility of dealing with these virtual currencies according to the opinion of contemporary scholars. Some countries have moved to recognize Bitcoin as a means of electronic payment for transactions that take place over the Internet. Some countries have also regulated the trading of digital currencies. And allowed their use within a legal framework under certain conditions. Like the state of El Salvador, which issued a decision to do so in 2021 AD.