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Cryptocurrency and Bitcoin

Answered as per Hanafi Fiqh by Muftionline.co.za

Q: I invested in cryptocurrency last year. What is the Islamic ruling regarding cryptocurrencies? If it is not permissible, what should I do with it?

Bismillaah

A: The ulama have not yet regarded crypto currencies as currency. Hence, you should not deal in it. If you are able to exchange it with the person you purchased it from and get back your money, then you should do so.

And Allah Ta’ala (الله تعالى) knows best.

Answered by:

Mufti Zakaria Makada

Checked & Approved:

Mufti Ebrahim Salejee (Isipingo Beach)


Original Source Link

This answer was collected from MuftiOnline.co.za, where the questions have been answered by Mufti Zakaria Makada (Hafizahullah), who is currently a senior lecturer in the science of Hadith and Fiqh at Madrasah Ta’leemuddeen, Isipingo Beach, South Africa.

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