Cryptocurrency Menurut Islam – Islam is the second largest religious group in the world. According to records, as of 2020, about 24.7% of the world’s population, or about 1.9 billion people, believe in Islam. Therefore, Muslims’ views on whether Bitcoin and other cryptocurrencies are halal or haram are important and may even have a significant impact in the future.
When we look at the history of Islam, which was born around 1400, Sharia law certainly does not explicitly state whether Bitcoin is haram or halal. Therefore, it is now up to Muslim scholars to interpret Sharia law regarding finance and currency to decide whether this new age digital currency can be used by the Islamic religious community.
Table of Contents
- Cryptocurrency Menurut Islam
- Koin Islam ($islm): Mata Uang Crypto Syariah Yang Mengguncang Dunia!
- Analisis Hukum Syariah Terhadap Bitcoin
- Ragam Pandangan Ulama Dan Sarjana Islam Tentang Halal Haram Cryptocurrency
- Masih Abu Abu Di Indonesia, Begini Pandangan Crypto Dari Negara Muslim Lain
- Aset Digital Bitcoin Sebagai Objek Harta Waris Dalam Perspektif Hukum Islam Kontemporer
- Ulama Terkemuka Mengaggap Ethereum Halal!
- Apakah Kripto Halal Sebagai Jenis Instrumen Investasi?
- Arti Penting Mata Uang Cryptocurrency Sebagai Alat Pembayaran Yang Sah Menurut Prefektif Hukum Indonesia Di Era Revolusi Industri 4.0
- Aset Kripto Halal Atau Haram? Ini Penjelasannya
Cryptocurrency Menurut Islam
This article will discuss in more depth the views of various Islamic scholars from around the world on currency.
Koin Islam ($islm): Mata Uang Crypto Syariah Yang Mengguncang Dunia!
Since ancient times, Islamic law has defined money as anything considered valuable. In fact, the value of the items they convert into money does not fluctuate rapidly.
Dinars and dirhams were two currencies popular in Muslim-majority areas in ancient times. The Byzantine dinar was a gold coin weighing approximately 5 grams, while the dirham was a Persian currency made of silver. The raw materials of these two currencies determine the value of dinars and dirhams.
However, the value of dinars and dirhams may change from time to time due to differences in supply and demand for gold and silver. In addition, Islamic countries still use this currency in compliance with Islamic law that prohibits interest (riba). Over time, they turned to fiat currency, which is essentially paper and has no real value. As society is able to accept the use of fiat currency, Islamic scholars also accept its use, which is common in Islamic countries.
“The buying and selling of foreign currencies and money for the purpose of investment and profit defeats the purpose of money and tamaniyah.”
Analisis Hukum Syariah Terhadap Bitcoin
The above quote often forms the basis of the opinion of Islamic scholars who believe that Bitcoin violates the financial principles of the Islamic religion.
Others are unstable. As a result, users can achieve extraordinary profits or minimal losses. So in a situation like today Bitcoin and its currency
Other currencies act as investment vehicles rather than currencies. This has also given rise to opposing narratives about Bitcoin and currency.
As the name suggests, Islamic finance refers to Islamic law or financial activities conducted in accordance with Islamic law, including banking activities, daily transactions, lending, investing, business planning and profit and loss sharing. Islamic finance principles have been valid since the birth of Islam. However, it wasn’t until the 20th century that this rule finally became the standard. Any country that adopts a Shariah governance system based on Islamic law automatically follows the principles of Islamic finance. Although financial principles in Islamic law prohibit many common practices in conventional finance, the fact is that the Islamic finance sector has the capacity to grow between 15% and 25% annually. The basic principles for determining whether financial activities are legal or illegal according to Islamic religious law are:
Ragam Pandangan Ulama Dan Sarjana Islam Tentang Halal Haram Cryptocurrency
Sharia law prohibits usury as it is considered unfair. Islamic teachings hold that usury only benefits the lender and exploits the debtor.
Sharia law explicitly outlaws various illegal activities, such as eating pork, consuming alcoholic food or drinks, and gambling. Therefore, any business that engages in these or other illegal activities, such as investing in illegal businesses, is also considered illegal.
Sharia law strictly prohibits event-based speculative financial activities, such as gambling, as this can lead to huge losses. In Islamic teachings, activities related to gambling are called maysir.
In addition to maysir, another financial activity prohibited by Muslims is garar, or a financial agreement with an uncertain outcome. Like Maysir, Islamic law prohibits the use of Garar due to its potential harm. Examples of activities included on Garar include derivatives contracts and short selling (
Masih Abu Abu Di Indonesia, Begini Pandangan Crypto Dari Negara Muslim Lain
Mufti Muhammad Abu-Bakar was an Islamic scholar who worked at Silk Bank Limited. He has an outstanding record of studying and applying Islamic finance in daily life according to Islamic law.
He believes that Bitcoin is halal because it is a store of value asset that has gained consensus among people. Bitcoin can also be used on exchanges and serves as a medium for transactions between individuals and businesses. He also added that Islam is okay with it as long as the relevant government legalizes the currency.
However, he also reminded that as a relatively new field, cryptocurrency prices are still quite volatile and risky. Mufti Muhammad Abu-Bakar believes that from a speculative perspective, all other currencies are actually speculative. However, this is not considered illegal.
Ph.D. Ziyad Mohammed said Sharia law does not require money to have an intrinsic value. Because if that were the rule, legal currency in the form of paper currency would not be as valuable as dirhams and dinars made of gold and silver. Therefore, the most important thing about currency is that the social circle has a consensus that currency is actually valuable and can be used for transactions. This view is consistent with that conveyed by Mufti Muhammad Abubakar.
Aset Digital Bitcoin Sebagai Objek Harta Waris Dalam Perspektif Hukum Islam Kontemporer
Too fast and often pointless. Therefore, he called on Muslims to be more careful when buying and selling Bitcoin and assets.
Other currencies do not add value to society or stimulate employment or the production of goods and services in the same way that fiat currencies do. He also added that the concentration of wealth in digital assets would be dangerous to society.
Despite these concerns, Mufti Faraz Adam still believes that Bitcoin and other cryptocurrencies are halal. He considered it a truly valuable asset, thus fulfilling the definition of maal. In Islamic teachings, maal is something that we can save or retain for later use when needed. This principle is valid as long as it is legally binding. Although it is an investment
Egypt’s Grand Mufti Sheikh Shawki Allam believes that Bitcoin’s properties fall far short of the ideal standards for a currency. Because Bitcoin has a lot of complexity, volatility, and risk. Sheikh Shawki Allam also believes that Bitcoin has no connection to the market or economy that exists to date. If we look at the theft cases in the world
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There is nothing that can be done. This is actually one of the limitations of decentralized currencies. And the nature of money
Sheikh Haitham al-Haddad believes that Bitcoin is not accepted as currency because it has no real value. He also believes that fiat currencies are not real due to the Bretton Woods Agreement that broke the link with gold. Sheikh Haitham al-Haddad concluded that Bitcoin mining activities are also illegal because they make money from something that is not real.
After reading the above statement, it seems that Muslim scholars are yet to agree on the debate regarding Bitcoin and cryptocurrencies in Islamic religious law. Although most people claim that Bitcoin is halal and allow its use, some scholars believe that Bitcoin is too speculative and full of uncertainty. Despite the controversy, many Muslims continue to buy and use Bitcoin as a currency and investment tool.
Many Muslim scholars consider Bitcoin haraam because of its volatility, high potential risk, and price uncertainty. Furthermore, due to the original existence of the user
Apakah Kripto Halal Sebagai Jenis Instrumen Investasi?
Untraceable. But we can actually track cryptocurrency transactions because transactions are transparent and transactions that have already occurred cannot be changed. This ability is one of the key factors that attracts people to use currencies.
. While some people think technology is great, there are still others who think they can benefit from it
Crime. But we need not worry because there are many ways to reduce risks and fraud in cryptocurrency trading, one of which is proper regulation.
Most scientists believe that Bitcoin is considered halal because it is socially acceptable. However, some say that Bitcoin is illegal because it is unstable, risky, and has no intrinsic value.
Arti Penting Mata Uang Cryptocurrency Sebagai Alat Pembayaran Yang Sah Menurut Prefektif Hukum Indonesia Di Era Revolusi Industri 4.0
Islamic scholars also believe that Bitcoin investments are halal as long as the investment results are used to fund halal activities.
Saudi Arabia has not officially banned Bitcoin and other cryptocurrencies. However, there is no legal protection against losses caused by using and investing in cryptocurrencies.
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Rahul’s crypto journey began in 2014. He holds a master’s degree in finance and was one of the first to recognize the untapped potential of decentralized technology. Since then, he has been guiding startups through the complex world of digital marketing and media promotion. His work has impacted many multi-million dollar cryptocurrency exchanges and DeFi platforms.
Aset Kripto Halal Atau Haram? Ini Penjelasannya
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