Question

Assalamualaykum

I was wondering if e currencies like bitcoin etc halal to invest in. some people say its ok others say its not allowed.

Answer

Contemporary scholars have differing opinions in relation to trading in crypto currencies. Some have argued it to be permissible whilst others have argued otherwise. We do feel that there is scope for permissibility, however, as the matter requires an in depth study we are not yet in a position to issue a ruling. We will be conducting a detailed study soon insha Allah and will be posting our findings on the fatwacentre website.

Answered by:
Ifta Research Fellow

Checked & Approved by:
Mufti Abdul Rahman Mangera
Mufti Zubair Patel