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Ruling on trading in unofficial digital currencies - doaausef3li - 11-19-2024
Jurists have agreed that it is not permissible to deal with unofficial cryptocurrencies that are not recognized by governments. This is because they depend on creating money from nothing. This is considered one of the aspects of usury. Since the exchange of money is one of the conditions of exchange in Islamic law. It prevents the process of creating money on which cryptocurrencies are based. حكم تجارة العملات الرقمية
It was mentioned in an authentic hadith that gold is exchanged for gold, silver for silver, and barley for barley. And so on from the hadith that emphasizes the condition of exchange of money in kind, which prevents usury. Usury and the creation of money are forbidden in Islamic law.