BlockchainBaronGuard
Fri Jun 07 2024
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7 answers
1300
Is Bitcoin haram in Islam?｜Islamic banking laws are also anti-interest so by many Islamic scholars who rely on the teachings of Prophet Muhammad PBUH when seeking guidance about permissibility (ultimately, only Allah knows best).the technology, pricing, and buying and selling cryptocurrency money is deemed halal
Could you elaborate on the Islamic perspective regarding the legality of Bitcoin? Islamic banking principles oppose interest-based transactions. Given that, how do Islamic scholars reconcile their faith with the technology, pricing, and trading of cryptocurrencies, which are often deemed halal? Is there a consensus among scholars, or does the issue remain open to interpretation? Ultimately, who holds the authority to determine such matters in Islam, and how does one reconcile these teachings with modern financial innovations like Bitcoin?
