The ruling on trading in digital currencies in Iraq
Posted: Mon Nov 18, 2024 10:07 pm
The International Union of Muslim Scholars issued a fatwa on the ruling on trading in digital currencies in Iraq and in Arab countries. He published on his website the fatwa issued by the Ijtihad and Fatwa Committee regarding dealing with these encrypted digital currencies. It included the prohibition of dealing with these virtual currencies in their current state. It also prohibited manufacturing or trading them.
حكم العملات الرقمية
The committee explained some of the reasons on which it relied in this fatwa. Among them is that these encrypted digital currencies do not meet the pillars and conditions specific to money according to economists and jurists. Which include that cash currencies are the ruling ones. And that they are the average among all funds so that funds can be estimated with them. And that their proportion to all funds is the same proportion.
حكم العملات الرقمية
The committee explained some of the reasons on which it relied in this fatwa. Among them is that these encrypted digital currencies do not meet the pillars and conditions specific to money according to economists and jurists. Which include that cash currencies are the ruling ones. And that they are the average among all funds so that funds can be estimated with them. And that their proportion to all funds is the same proportion.