THE LEGALITY OF CRYPTOCURRENCY IN ISLAMIC ECONOMIC LAW: BETWEEN INNOVATION AND CAUTION
LEGALITAS CRYPTOCURRENCY DALAM HUKUM EKONOMI SYARIAH: ANTARA INOVASI DAN KEHATI-HATIAN
Keywords:
Cryptocurrency, Islamic Economic Law, Financial Innovation, Riba, Maqasid ShariaAbstract
This research examines the legal status of cryptocurrency from the per-spective of Islamic economic law, considering Islamic transaction princi-ples such as the prohibition of riba (usury), gharar (uncertainty), and may-sir (gambling). Using a qualitative approach and textual analysis of Islamic legal sources and contemporary fatwas, this research finds that cryptocur-rency occupies a controversial position among Islamic scholars and jurists. Some scholars support cryptocurrency as a financial innovation aligned with maqasid sharia when used as a medium of exchange, while others view it as a speculative instrument that does not qualify as Islamic curren-cy. The findings indicate that cryptocurrency can be accepted within the Islamic legal framework under certain conditions, including regulatory cer-tainty, transparency, and usage distant from excessive speculation. This research provides a framework of considerations for developing cryptocur-rency regulations that align with Islamic economic principles.
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