ISSN: 2222-6990
Open access
At present, there is a notable divergence in viewpoints among Islamic scholars pertaining to the legality of Bitcoin transactions. A subset of these scholars categorically prohibits its use, while another endorses it. This disparity has precipitated confusion within the Muslim community, thereby complicating the task of adopting one stance over the other. The primary aim of this study is to meticulously examine and analyze the arguments presented by both subsets, with the objective of shedding light on the underlying causes of this divergence of viewpoints. To achieve this, the study utilizes a blend of descriptive and inductive analytical methodologies. The findings indicate that the scholars who prohibit Bitcoin largely base their arguments on external factors, with a minority of objections directly related to the inherent attributes of Bitcoin itself. In contrast, the subset that endorses the use of Bitcoin tends to focus on the intrinsic system of Bitcoin, often minimizing the importance of external factors. However, even the endorsers of Bitcoin acknowledge that current Bitcoin transactions are not without risks. They suggest that these risks should be addressed by the appropriate authorities through the implementation of effective preventive measures
Afrizal, A., Marliyah, M., & Fuadi, F. (2021). Analisis terhadap cryptocurrency (perspektif mata uang, hukum, ekonomi dan syariah). Jurnal Ekonomi Manajemen dan Bisnis, 22(2), 13-41.
Al-Mabtul, M. (2021). Al-Nuqud al-iftiradiyyah bi al-Maghrib min al-ikhtiyar ila al-darurah. Al-Manarah Li al-Dirasat al-Qanuniyah Wa al-Idariyah Special Issue(3), 61-79.
Al-Saad, A. M., & Al-Rawabidah, S. M. (2020). Al-Nuqud al-iftiradiyyah ta'silaha fiqhi wa hukm zakatuha. Remah Review for Research and Studies, 48, 21-56.
Al-Zarqa, A. M. (1989). Sharh al-Qawa`id al-Fiqhiyyah. Dar al-Qalam.
Al-Zuhayli, W. (2012). Al-Fiqh al-Islami Wa Adillatuh (3 ed.). Dar El Fikr.
Anhar Opir. (2021). Hukum Matawang Kripto (Cryptocurrency): Satu Analisa Syarak. Jabatan Mufti Negeri Selangor.
Asep, Z. A., & Elsa, S. N. A. (2018). Teknologi cryptocurrency bitcoin dalam transaksi bisnis menurut syariat Islam. Jurnal Sosioteknologi, 17(1), 74-92.
Bank Negara Malaysia. (2014). Statement on Bitcoin. Retrieved 11/11/2022 from https://www.bnm.gov.my/-/statement-on-bitcoin
Central Bank of Jordan. (2020). Cryptocurrencies. Oversight and Supervision on National Payments System Department.
Dodik, S., Rangga, H., & Farah, A. M. (2020). The requirements of cryptocurrency for money, an Islamic view. Heliyon, 6(1), 1-9.
Hardian, S. J., & Ahmad, A. Z. (2021). Transaksi cryptocurrency perspektif hukum ekonomi syariah. Jurnal Al-Adalah: Jurnal Hukum dan Politik Islam, 6(2), 137-148.
Hong Kong Police Force. (2022). Virtual Commodities Trading (Bitcoin). Retrieved 11/11/2022 from https://www.police.gov.hk/ppp_en/04_crime_matters/ccb/fst.php?msg_id=cct_04
Jabatan Mufti Negeri Perlis. (2018). Fatwa Bitcoin. Retrieved 11/11/2022 from https://muftiperlis.gov.my/index.php/himpunan-fatwa-negeri/95-fatwa-bitcoin
Jad Allah, Y. A. a.-H. (2018). Electronic currencies and their Islamic juristic rules: bitcoin as an example. Majallah Kulliyah al-Shariah Wa al-Qanun, 20(1), 1-78.
Kurniawan, I. D., Sasono, S., Septiningsih, I., Santoso, B., Harjono, & Rustamaji, M. (2021). Transformasi penggunaan cryptocurrency melalui bitcoin dalam transaksi komersial dihubungkan dengan diskursus perlindungan hukum (legal protection) konsumen di Indonesia. Jurnal Hukum Mimbar Justitia, 7(1), 65-86.
Lassuyt, C. (2022). PayPal and Microsoft Adopt Cryptocurrencies: What This Means for the Future. Retrieved 12/11/2022 from https://www.nasdaq.com/articles/paypal-and-microsoft-adopt-cryptocurrencies%3A-what-this-means-for-the-future
Lisa, A. (2021). 10 Major Companies That Accept Bitcoin. Retrieved 12/11/2022 from https://finance.yahoo.com/news/10-major-companies-accept-bitcoin-190340692.html
Majelis Ulama Indonesia. (2021). Keputusan Fatwa Hukum Uang Kripto atau Cryptocurrency. Retrieved 10/11/2022 from https://mui.or.id/berita/32209/keputusan-fatwa-hukum-uang-kripto-atau-cryptocurrency/
Masruron, M. (2021). Tinjauan hukum Islam terhadap transaksi bitcoin dalam perspektif ulama fiqh klasik dan kontemporer. TAFAQQUH: Jurnal Hukum Ekonomi Syariah dan Ahwal Syahsiah, 6(1), 52-65.
Faiz, M. Y., Aliff, N., & Iskandar, R. R. H. (2019). Persediaan institusi zakat menggunakan mata wang kripto (bitcoin). INTERNATIONAL JOURNAL OF ZAKAT AND ISLAMIC PHILANTHROPY, 1(2), 138-150.
Faizal, M. Y. (2021). Perilaku pembayaran zakat mata wang digital kripto: isu, cabaran dan strategi. International Journal of Behavioral Analytics, 4, 1-12.
Nababan, K. N. N. (2019). Tinjauan Legalitas Transaksi Bitcoin Di Indonesia. Jurist-Diction, 2(5), 1745-1763.
Nakamoto, S. (2008). Bitcoin: A Peer-to-Peer Electronic Cash System. Retrieved 26/11/2022 from https://bitcoin.org/en/bitcoin-paper
Nashirah, A. B., Sofian, R., & Uzaki, K. (2017). Cryptocurrency framework diagnostics from Islamic finance perspective: a new insight of bitcoin system transaction. International Journal of Management Science and Business Administration, 4(1), 19-28.
Sapra, R., & Dhaliwal, P. (2021). Blockchain: The perspective future of technology. International Journal of Healthcare Information Systems and Informatics, 16(2), 1-20. https://doi.org/10.4018/IJHISI.20210401.oa1
Suruhanjaya Securiti Malaysia. (2020). Keputusan Majlis Penasihat Syariah Suruhanjaya Securiti Malaysia. Securities Commission Malaysia.
The Securities Commission Malaysia. (2019). List Of Registered Digital Asset Exchanges. Retrieved 9/11/2022 from https://www.sc.com.my/regulation/guidelines/recognizedmarkets/list-of-registered-digital-asset-exchanges
Triple, A. (2021). USA: Cryptocurrency information about United States of America. Retrieved 11/11/2022 from https://triple-a.io/crypto-ownership-usa-3/
Umar, S. A.-M. (2021). al-Umlah al-Raqamiyyah: Bitcoin Namuzajan, Khasais Wa Makhatir Taamul Biha. Journal of Faculties of Education, 22(1), 422--436.
Zulhuda, S., & Sayuti, A. (2017). Whither policing cryptocurrency in Malaysia? IIUM Law Journal, 25(2), 179-196.
In-Text Citation: (Alias et al., 2023)
To Cite this Article: Alias, M. N., Mujani, W. K., Alias, N., Mazuki, A. A. M., Mohamad, M. N., Zaidi, M. A. S., Hussain, W. M. H. W., Salleh, A. D., & Kamis, M. S. (2023). A Comprehensive Analysis of The Varied Interpretations among Islamic Scholars Concerning Bitcoin Transactions. International Journal of Academic Research in Business and Social Sciences, 13(9), 1675–1685.
Copyright: © 2023 The Author(s)
This article is published under the Creative Commons Attribution (CC BY 4.0) license. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this license may be seen at: http://creativecommons.org/licences/by/4.0/legalcode