⚖️ Criteria for distinguishing between halal and questionable
The ruling on a currency often varies depending on the nature of the project and the method of profit extraction
🟢 High-compliance currencies are often
Simple digital currencies like Bitcoin BTC
Platform coins that offer clear benefits like Ethereum ETH
Stablecoins backed by full guarantees like USDT USDC
Provided to avoid dealing with usury in lending products
🟡 Currencies with reservations are often
Pure speculative currencies that have no asset
Currencies associated with gambling games
Currencies that reward the storage process by issuing new currencies Proof of Stake has disagreement among scholars
🔴 High-risk currencies are often
Currencies of services prohibited by Sharia
Currencies that rely entirely on gambling
Currencies that manipulate the mechanism of supply and distribution unfairly
💡 Practical examples from the market
Bitcoin BTC ⚡
Many scholars consider it closer to halal because it
A means of payment and saving, not a share in a company
Its mechanism is clear to everyone
But they warn against trading it like gambling
Ethereum ETH 🌐
A platform for smart contracts and applications
Its ruling depends on the application used on it
It may be halal or haram
Specific service currencies 🛠️
Like SIA currency for renting storage capacity
Or Filecoin FIL for the same purpose
Considered more acceptable due to its connection to a useful service asset
Lending currencies and decentralized banks 🏦
Like AAVE or COMPOUND
Dealing with it raises the issue of usury
And it requires careful examination by a specialist
📚 Main sources for research and fatwas
1 Global Sharia authorities 🌍
Sharia advisory at Binance
Issues fatwas and reports on specific projects
The Sharia Fatwa Council in Dubai
Provides in-depth research on blockchain technology
2 specialized classification platforms 📊
Islamic Finance platform
It monitors compliant currencies and issues periodic reports
Zoya website
An application that checks wallets and analyzes their compliance
3 self-research references 🔍
The technical paper of the currency Whitepaper
Explains the philosophy of the project and how it works
Activities of the development team
Social media and record of achievements
Reports from regulatory authorities
In the country where the project operates
💎 Summary and practical recommendation
There is no single final list
Because rulings may change with the function of the currency
Combining sources is essential
Refer to the fatwa of the authority and then understand the mechanism of work yourself
Intention and purpose determine the ruling
Long-term investment in a useful asset
Not the daily speculation close to gambling
🌱 Always remember
Sharia research is continuous and not momentary
Consult your heart; what confuses you, leave it
Halal investment is a blessing, even if its amount is small
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