Digital Currency Bitcoin and Rulings According to Islamic Provisions

Abstract

Currently, digital currencies have gained extremely high popularity, Bitcoin and others. For those who follow Islam, there is also a need to conduct transactions or invest in such digital currencies. This necessitates a study of whether such issues are prohibited according to Islamic provisions or not. Research Objectives: 1) To study the characteristics of Bitcoin and rulings according to Islamic provisions. This is a qualitative research approach, studying literature and related Islamic provisions, as well as using in-depth interview methods with relevant personnel. Research Results: The study found that regarding Bitcoin, most scholars still consider it to be prohibited, citing what they consider to be strong evidence, namely that it is unknown who the producer is, causing ambiguity, as well as the fact that the country's government is not the producer and does not control or oversee it. Conclusions and Benefits: However, ultimately, the ruling that Bitcoin is prohibited by scholars is a judgment that exists in the present. Therefore, if in the future digital currencies that are cryptocurrencies have characteristics that change and align with the aforementioned Islamic provision, evidence, it may make such digital currencies correct according to Islamic provisions.