The difference between forbidden and non-forbidden digital currencies
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In Islamic law, trading digital currencies is considered an issue that requires controls, and opinions differ on it. Forbidden and non-forbidden currencies are distinguished based on the following points:
1. Non-forbidden currencies (halal):
They depend on clear and useful projects, such as supporting blockchain technology or providing solutions to real problems.
They are free of ambiguity and usury, and are not used in prohibited activities.
They have transparency in their use, such as Bitcoin (according to some fatwas).
2. Forbidden currencies:
They are associated with immoral or illegal activities, such as gambling or anonymous financing.
They depend on pure speculation without a real project, such as some meme currencies.
They promote fraud or deception to attract investors.
Note: The legal ruling differs among scholars, so it is preferable to consult specialists or legal bodies before trading.
