Is Crypto Halal or Haram in Islam?

Opinions from Islamic Scholars

The Darul Uloom Zakariyya, a well-respected Islamic seminary, has issued a fatwa (religious ruling) stating that Bitcoin and other similar cryptocurrencies are permissible investments for Muslims. The seminary argues that these digital currencies are considered a store of value or commodity, which is permissible under Islamic law.

Other Islamic Scholars' Views

However, other Islamic scholars have a different opinion. They argue that cryptocurrencies are a form of gambling or speculation, which is prohibited in Islam. They also point out that many cryptocurrencies are highly volatile, which could lead to financial losses for investors.

National Sharia Authorities' Stances

National sharia authorities in different countries have taken varying stances on the issue of cryptocurrency. Some have issued rulings declaring cryptocurrencies to be permissible, while others have not yet made a decision.

Conclusion

The permissibility of cryptocurrency in Islam is still a matter of debate among Islamic scholars. There is no clear consensus on the issue, and each individual Muslim must decide for themselves whether or not they believe it is permissible to invest in or participate in crypto-related activities.