FAQs

Question

Is Cryptocurrency Shariah Compliant

Answer

It is Shariah Non-Compliant
A cryptocurrency is a digital or virtual currency designed to work as a medium of exchange. It uses blockchain technology to secure and verify transactions as well as to control the creation of new units of a particular cryptocurrency
It is a ‘peer-to-peer electronic cash system.’ It is completely decentralized, meaning there are no servers involved is no central controlling authority. It is created and held electronically.



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