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Bitcoin, Ethereum And Other Cryptocurrencies

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.

Checked and Approved By:

Mufti Muhammed Saeed Motara Saheb D.B.

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