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Is trading of Cryptocurrency permissible?

QUESTION

Slms, is the trading of crypto currency halal?

(Question posted as Received)

ANSWER

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

Respected Brother in Islam,

There are conflicting reports about Cryptocurrency. In view of the ambiguities in the procedure and uncertainties in the investment returns, the Darul Iftaa advises the public to exercise precaution and not to invest in Cryptocurrency.

Therefore, we advise one to adopt Taqwa by refraining from engaging in such transactions.

Please read the following hadith:

باب أَخْذِ الْحَلاَلِ وَتَرْكِ الشُّبُهَاتِ

Chapter: Taking that which is lawful and leaving that which is doubtful

 

عَنِ النُّعْمَانِ بْنِ بَشِيرٍ، قَالَ: سَمِعْتُهُ يَقُولُ: سَمِعْتُ رَسُولَ اللهِ صَلَّى اللهُ عَلَيْهِ وَسَلَّمَ، يَقُولُ: – وَأَهْوَى النُّعْمَانُ بِإِصْبَعَيْهِ إِلَى أُذُنَيْهِ – «إِنَّ الْحَلَالَ بَيِّنٌ، وَإِنَّ الْحَرَامَ بَيِّنٌ، وَبَيْنَهُمَا مُشْتَبِهَاتٌ لَا يَعْلَمُهُنَّ كَثِيرٌ مِنَ النَّاسِ، فَمَنِ اتَّقَى الشُّبُهَاتِ اسْتَبْرَأَ لِدِينِهِ، وَعِرْضِهِ، وَمَنْ وَقَعَ فِي الشُّبُهَاتِ وَقَعَ فِي الْحَرَامِ، كَالرَّاعِي يَرْعَى حَوْلَ الْحِمَى، يُوشِكُ أَنْ يَرْتَعَ فِيهِ، أَلَا وَإِنَّ لِكُلِّ مَلِكٍ حِمًى، أَلَا وَإِنَّ حِمَى اللهِ مَحَارِمُهُ، أَلَا وَإِنَّ فِي الْجَسَدِ مُضْغَةً، إِذَا صَلَحَتْ، صَلَحَ الْجَسَدُ كُلُّهُ، وَإِذَا فَسَدَتْ، فَسَدَ الْجَسَدُ كُلُّهُ، أَلَا وَهِيَ الْقَلْبُ».

Translation:

Nu’man b. Bashir (Allah be pleased with him) reported:

I heard Allah’s Messenger (May peace be upon him) as having said this (and Nu’man) pointed towards his ears with his fingers): What is lawful is evident and what is unlawful is evident, and in between them are the things doubtful which many people do not know. So, he who guards against doubtful things keeps his religion and integrity blameless, and he who indulges in doubtful things, in fact, indulges in unlawful things, just as a shepherd who pastures his animals round a reserve will soon pasture them in it. Beware, every king has set boundaries, and the boundaries of Allah are his prohibitions. Beware, in the body there is a piece of flesh; if it is sound, the whole body is sound and if it is corrupt the whole body is corrupt. Behold! It is the heart.[i]

And Allah Ta’āla Knows Best

Shahid bin Rashid Shaikh

Student – Darul Iftaa

New Jersey, USA

Checked and Approved by,

Mufti Ebrahim Desai.

 

[i] صحيح مسلم (3/ 1219)

107 – (1599) حَدَّثَنَا مُحَمَّدُ بْنُ عَبْدِ اللهِ بْنِ نُمَيْرٍ الْهَمْدَانِيُّ، حَدَّثَنَا أَبِي، حَدَّثَنَا زَكَرِيَّاءُ، عَنِ الشَّعْبِيِّ، عَنِ النُّعْمَانِ بْنِ بَشِيرٍ، قَالَ: سَمِعْتُهُ يَقُولُ: سَمِعْتُ رَسُولَ اللهِ صَلَّى اللهُ عَلَيْهِ وَسَلَّمَ، يَقُولُ: – وَأَهْوَى النُّعْمَانُ بِإِصْبَعَيْهِ إِلَى أُذُنَيْهِ – «إِنَّ الْحَلَالَ بَيِّنٌ، وَإِنَّ الْحَرَامَ بَيِّنٌ، وَبَيْنَهُمَا مُشْتَبِهَاتٌ لَا يَعْلَمُهُنَّ كَثِيرٌ مِنَ النَّاسِ، فَمَنِ اتَّقَى الشُّبُهَاتِ اسْتَبْرَأَ لِدِينِهِ، وَعِرْضِهِ، وَمَنْ وَقَعَ فِي الشُّبُهَاتِ وَقَعَ فِي الْحَرَامِ، كَالرَّاعِي يَرْعَى حَوْلَ الْحِمَى، يُوشِكُ أَنْ يَرْتَعَ فِيهِ، أَلَا وَإِنَّ لِكُلِّ مَلِكٍ حِمًى، أَلَا وَإِنَّ حِمَى اللهِ مَحَارِمُهُ، أَلَا وَإِنَّ فِي الْجَسَدِ مُضْغَةً، إِذَا صَلَحَتْ، صَلَحَ الْجَسَدُ كُلُّهُ، وَإِذَا فَسَدَتْ، فَسَدَ الْجَسَدُ كُلُّهُ، أَلَا وَهِيَ الْقَلْبُ».

Read more at http://www.askimam.org/public/question_detail/48154

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