Transaksi Cryptocurrency dalam Pandangan Hukum Ekonomi Syariah

Abstract

The increasingly widespread development of the digital era has led to changes in the payment system which then affects the economic behavior of the community in line with the increase in various services that facilitate economic activity. An example is the emergence of crypto currency or Cryptocurrency as a digital currency that has almost the same function as other currencies. The thing that distinguishes this digital currency from conventional currencies in general is that it does not have a physical form of money like currency currency but only a block of data bound by a hash as validation. Although it provides a number of advantages for its users, the existence of cryptocurrencies in Indonesia itself is still experiencing pros and cons in terms of regulation and legality, especially from the point of view of Islamic law for its use. Therefore, this study was conducted to review cryptocurrencies that are widely used in transactions, especially investments from the perspective of Islamic law. This research is a qualitative library research. The data analysis technique used is descriptive-analytical with a normative juridical approach to Islamic law. Based on a number of references used in this study, it is known that investing with cryptocurrencies has a very high risk because its value can go up or down drastically and unpredictable. Meanwhile, from the point of view of Islamic sharia law, the law of this cryptocurrency transaction is haram lighairihi.

Transactions of Cryptocurrency in the Perspective of Islamic Finance and Economics

“…However, Article 21 paragraph 2 of the Currency Law contains exceptions, where the use of rupiah is not mandatory for certain transactions, namely (1) the implementation of the State Budget, (2) the receipt or grant of aid from or to foreign countries, (3) import-export transactions, and (4) foreign exchange deposits in banking, or LC. Based on the explanation of legal material, the transactions can be used or have legality complying with Article 21 paragraph 2 of Law Number 7 of 2011 concerning Currency (Jati & Zulfikar, 2021).…”

Online Lending from an Islamic Business Perspective

“…Therefore, Islam has regulated and provided guidelines on the implementation and practice of Qard (debit and credit) that is good, correct, and maslahah. So that in its performance, it does not contain elements of fraud (gharar) and aspects of usury and does not harm one of the parties to the Qard transaction (Jati & Zulfikar, 2021).…”

A Comprehensive Analysis of The Varied Interpretations among Islamic Scholars Concerning Bitcoin Transactions

“…Although bitcoin is a digital currency and stored in the highly secure blockchain system, its acceptance varies among communities around the world. Most countries do not permit bitcoin and cryptocurrency transactions such as China, Indonesia, Jordan, Morocco, and others (Afrizal et al, 2021;Al-Mabtul, 2021;Central Bank of Jordan, 2020;Hardian & Ahmad, 2021;Umar, 2021).…”

“…Hence, those who hold the view that prohibits bitcoin believe that its ownership and usage contravene Islamic principles and should not be incorporated into Islamic financial practices. (Afrizal et al, 2021;Al-Saad & Al-Rawabidah, 2020;Asep & Elsa, 2018;Hardian & Ahmad, 2021;Masruron, 2021).…”