Existence of Cryptocurrency As A Tool Of Exchange and Investment In The Perspective of The Fatwa of The Indonesian Ulama Assembly

Authors

  • Moh. Nasrulloh UIN Prof. K.H. Saifuddin Zuhri Purwokerto, Indonesia
  • Akhmad Faozan UIN Prof. K.H. Saifuddin Zuhri Purwokerto, Indonesia

Keywords:

Cryptocurrency, Existence, MUI Fatwa, Islamic Finance

Abstract

In the past, buying and selling was only done face-to-face so that the sale and purchase contract could occur directly. However, in this modern era, buying and selling has experienced a lot of progress, so buying and selling can be done online. Cryptocurrency _ is one of the objects of buying and selling that is done online. However, the existence or existence of crypto money according to the MUI fatwa and the perspective of Islamic finance is still questionable, considering that crypto money can not only be used as a means of payment but can also be used as an investment tool. This study aims to describe Cryptocurrency as a medium of exchange and investment according to the MUI fatwa, as well as to criticize the MUI fatwa regarding Cryptocurrency for the mu'amalah activities of the Islamic community in Indonesia. The results of the study show that based on the MUI fatwa the use of cryptocurrencies (cryptocurrency) is illegal. While cryptocurrencies are commodities or assets that meet legal requirements for trading. For this reason, a deeper study is still needed for MUI regarding Cryptocurrencies for the common good.

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Published

20-02-2022

How to Cite

Nasrulloh, M., & Faozan, A. (2022). Existence of Cryptocurrency As A Tool Of Exchange and Investment In The Perspective of The Fatwa of The Indonesian Ulama Assembly. INTERNATIONAL CONFERENCE OF HUMANITIES AND SOCIAL SCIENCE (ICHSS), 676–684. Retrieved from https://programdoktorpbiuns.org/index.php/proceedings/article/view/89