Sharia Issues About Bitcoin Cryptocurrency Transactions

An Evaluation of Bitcoin From Shariah Perspective

“…For a contract to be valid under Shariah, both parties must fulfil the required conditions of legal capacity, i.e., have reached the age of puberty and are mentally competent. A person must possess this legal capacity in order to be eligible to exercise their rights and carry out their contractual obligations and responsibilities (Lateh & Rejab, 2021). As such, anonymity is not an issue from in the case of conducting bitcoin transactions from the Shariah standpoint since it is not required that the parties to a contract know one another, present their identification, or reveal their faces (Siddique & Shah, 2021).…”

“…Fraud is morally reprehensible, both logically and in conformity with civil and criminal law. (Lateh & Rejab, 2021). It is mentioned in the Qur'an:…”

“…Therefore, it is prohibited for anybody to benefit from investing in bitcoin merely on the basis of speculation, without sufficient knowledge or a thorough analysis (Abubakar et al, 2018). This prohibition under Shariah does not apply to activities that include knowledge, skill, the investment of assets, and labor, as well as those that rely on the analysis of economic and financial data (Lateh & Rejab, 2021). Instead, it is the one that involves making an effortless gain based on chance or wagering.…”

Relationship Between Bitcoin and Islamic Stock Indices During the COVID-19 Pandemic and the Russia-Ukraine Crisis

“…The emergence of Bitcoin as a leading cryptocurrency has attracted research from across the world and there is an ongoing debate about the legality and permissibility of cryptocurrency in Islamic finance. (Adam, 2019;Alam et al, 2019;Habib & Adekunle, 2019;Lateh & Rejab, 2021).…”