The Existence of Cryptocurrency from the Perspective of Islamic Fiqh: A Legal Analysis of the Buying and Selling of Digital Assets
DOI:
https://doi.org/10.61987/fiqh.v1i1.802Keywords:
Crypto Asset Trading, Fiqh Muamalah, Digital Asset, GhararAbstract
This study aims to analyse the legal status and permissibility of crypto asset trading from the perspective of muamalah jurisprudence, in light of the growing practice of blockchain-based digital transactions within Muslim communities. The research addresses legal questions related to the use of crypto assets as a medium of exchange or trade commodity under Islamic law. Utilising a qualitative approach through library research, the study examines the views of classical and contemporary scholars, as well as official fatwas on digital assets. The findings suggest that the legality of crypto asset trading remains subject to ijtihad (independent legal reasoning), with considerations based on factors such as benefits, system security, and contract transparency. Some scholars prohibit crypto trading due to concerns over gharar (ambiguity) and excessive speculation. In contrast, others permit it on the condition that crypto assets function as commodities rather than currency, and adhere to sharia principles, including clarity of the object, proper contractual elements, and compliance with contract requirements. The implications of this research emphasise the need for sharia-compliant regulations and education to guide the Muslim community in making informed decisions when investing and trading digital assets in line with Islamic muamalah principles.
References
Ahmad, M., Sbaihat, A., Hosny, M. M., & Othman, S. (2024). The Interplay of Fiqh and Ushul Fiqh: Unveiling the Riches of Islamic Sharia for Comprehensive Insight. Al-Akhyari: International Journal Multidisciplinary Science, 1(1), 1–13.
Albalawee, N., & Al Fahoum, A. S. (2023). Islamic Legal Perspectives on Digital Currencies and How They Apply to Jordanian Legislation. F1000Research, 12, 97. https://doi.org/10.12688/f1000research.128767.2
Biju, A. V. N., & Thomas, A. S. (2023). Uncertainties and Ambivalence in the Crypto Market: An Urgent Need for A Regional Crypto Regulation. SN Business & Economics, 3(8), 136. https://doi.org/10.1007/s43546-023-00519-z
Dianur, A. R. (2024). Tinjauan Hukum Penyidikan Terhadap Pelaku Tindak Pidana Judi Online (Studi Kasus di Polrestabes Semarang). Universitas Islam Sultan Agung Semarang.
Faisal, A., & Ghofur, A. (2025). The Idea of Maqashid Syariah: The Foundation of Ijtihad in Ahmad Ar-Raisuni’s View. As Syir'ah.
Hassan, M. K., Muneeza, A., & Mohamed, I. (2025). Cryptocurrencies from Islamic Perspective. Journal of Islamic Accounting and Business Research, 16(2), 390–410. https://doi.org/10.1108/JIABR-09-2022-0238
He, M. D., Kokenyne, A., Lavayssière, X., Lukonga, M. I., Schwarz, N., Sugimoto, N., & Verrier, J. (2022). Capital Flow Management Measures in the Digital Age: Challenges of Crypto Assets. International Monetary Fund. https://doi.org/10.5089/9798400205880.063
Hudaaka, Z. L., & Hanifuddin, I. (2023). Kejelasan Sil’ah Objektivikasi Cryptocurrency pada Aplikasi Pintu. Jurnal Ilmiah Ekonomi Islam, 9(01), 935–943.
Imala, M. W., & Zahriani, L. (2023). Transaksi Jual Beli Non Fungible Token (NFT) Perspektif Fatwa DSN MUI Nomor 110 Tahun 2017 dan Akad Jual Beli. UIN Raden Mas Said.
Kadir, S., Rasyid, N. A., Rudji, H., & Kamal, K. (2025). Modernization of Islamic Thought Amidst the Challenges of Radicalism and Secularism. ISTIFHAM: Journal of Islamic Studies, 60–74.
Kismawadi, E. R. (2025). Islamic Fintech: Navigating the Regulatory Framework and Promoting Financial Inclusion in Gulf Cooperation Council (GCC) Countries. Journal of Islamic Marketing, 16(6), 1742–1769. https://doi.org/10.1108/JIMA-02-2023-0061
Kochergin, D. (2022). Crypto-Assets: Economic Nature, Classification and Regulation of Turnover. International Organisations Research Journal, 17(3), 75–130. https://doi.org/10.17323/1996-7845-2022-03-04
Nurdiansyah, I., & Ibrahim, H. Z. (2025). Bitcoin sebagai Instrumen Investasi dalam Perspektif Keuangan Islam. Gunung Djati Conference Series, 52, 153–162.
Othman, R. B. T., Noordin, M. F. Bin, Ahmed, M., Ahmad, N. B., & Kassim, S. B. (2022). How Do Muslim Scholars and Experts Posit Cryptocurrencies in Social Media. Journal of Theoretical and Applied Information Technology, 100(21).
Pangestu, D. A. (2023). Penggunaan Teknologi Blockchain dalam Transaksi Keuangan Syari’ah. Universitas Islam Indonesia.
Qizam, I., Berakon, I., & Ali, H. (2025). The Role of Halal Value Chain, Sharia Financial Inclusion, and Digital Economy in Socio-Economic Transformation: A Study of Islamic Boarding Schools in Indonesia. Journal of Islamic Marketing, 16(3), 810–840. https://doi.org/10.1108/JIMA-03-2024-0108
Reynaldi, P. (2025). Transaksi Jual Beli dengan Cryptocurrency sebagai Alat Tukar dalam Perspektif Hukum Islam (Studi di Perumahan Griya Ellok 2 Jalan Alimudin Umar Kecamatan Tanjung Karang Timur Kota Bandar Lampung). UIN Raden Intan Lampung.
Siregar, E. S., Manurung, W., Gunawan, R., Dzulkhairil, M., Siagian, R., Ardiansyah, M., Lubis, R., & Sitorus, A. (2024). Kepastian Hukum Aset Kripto sebagai Instrumen Investasi dalam Perspektif Hukum Islam dan Hukum Positif. El-Mujtama: Jurnal Pengabdian Masyarakat, 4(1), 181–192. https://doi.org/10.47467/elmujtama.v4i1.3249
Sunyaev, A., Kannengießer, N., Beck, R., Treiblmaier, H., Lacity, M., Kranz, J., Fridgen, G., Spankowski, U., & Luckow, A. (2021). Token Economy. Business & Information Systems Engineering, 63(4), 457–478. https://doi.org/10.1007/s12599-021-00684-1
Zook, M., & Grote, M. H. (2024). Blockchain Financial Geographies: Disrupting Space, Agency and Scale. Geoforum, 151, 103615. https://doi.org/10.1016/j.geoforum.2022.08.001
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2025 Ahmad Rehan
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
