Darul Ifta, Darul Uloom Azaadville

Bitcoin, Ethereum And Other Cryptocurrencies

· 26 Dhuʻl-Hijjah 1442 AH1 min readEnglish

Question

What is the ruling on forex and cryptocurrencies such as Bitcoin, ethereum etc.

Answer

Our Darul Ifta is currently busy with the research in regards to Bitcoin and other similar cryptocurrencies. We will only be able to issue an official Fatwa once our research is concluded.

At the moment, we still have strong reservations with regard to the Shar’ie acceptability of this form of investment, hence we advise you to abstain from it.

Approved by
Mufti Muhammed Saeed Motara Saheb D.B.
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Questions about this ruling, answered only from the archive with sources.

Where scholars differ, it’s safer to take the more cautious view.

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Source: Darul Ifta, Darul Uloom Azaadville — https://www.iftadua.co.za/bitcoin-ethereum-and-other-cryptocurrencies/7623/
Fatawa SA: https://fatawa.co.za/fatwa/azaadville-7623

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