whats is Bitcoin Fatwa & How it Conforms With Shariah ? Meaning, Definition, and Example

A Bitcoin Fatwa refers to a formal Islamic legal opinion regarding the permissibility of Bitcoin and other cryptocurrencies under Shariah law.

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The question of whether crypto is haram (forbidden) or halal (permissible) has sparked significant debate among scholars. Some argue that cryptocurrency is halal because it operates on a decentralized blockchain, which avoids issues like interest (riba) and uncertainty (gharar), key factors in determining whether a financial transaction is permissible under Shariah. Others,

however, argue that Bitcoin is halal only if it is used for lawful transactions and does not involve speculation or prohibited activities. Ultimately, the permissibility of crypto depends on its use, as it may be haram if used for illicit activities or if its volatility leads to excessive speculation, but it can be considered halal when used in a manner consistent with Islamic principles of fairness and transparency.

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