Question I s Crypto currency such as Bitcoin essentially prohibited because it is issued by unknown people? Some argue that it is not tangible, being not made from anything physical, except being backed by software. Wealth cannot be created from nothing, being prohibited in Sharī’ah . Although paper money in origin was based upon the gold standard, even though that link is not there now, it is accepted as being legal tender, being issued and controlled by central banks therefore having the backing of states, its overall legitimately accepted widely and not contended. Answer Having analysed the matter, there isn’t specific textual evidences cited that would make the buying and selling of this prohibited. The reasoning underpinning the adoption of a prohibition based upon its perceived nature contains several analytical flaws which will be commented upon in turn. In short, the general ruling of permissibility would apply in this instance. Reasoning...
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