International Journal of Economic, Business, Accounting, Agriculture Management and Sharia Administration (IJEBAS)
Vol. 1 No. 2 (2021): December

A STUDY OF LITERATURE: CRYPTOCURRENCY OF SYARIAH PERSPECTIVE

M. Shabri Abd. Majid (Faculty of Economics and Business, Universitas Syiah Kuala)
Marliyah Marliyah (Faculty of Economics and Islamic Business UIN Sumatera Utara Medan)
Rita Handayani (Faculty of Economics and Islamic Business UIN Sumatera Utara Medan)
Fuadi Fuadi (Faculty of Economics and Business Universitas Malikussaleh)
Afrizal Afrizal (Faculty of Economics and Islamic Business UIN Sumatera Utara Medan)



Article Info

Publish Date
24 Dec 2021

Abstract

Cryptocurrency is a digital or virtual currency, which does not have a physical form like fiat money. This crypto currency can only be used through devices such as PCs, laptops, smartphones and other devices that are connected to the internet. There are several advantages in a crypto system that uses blockchain system, such as transaction security, convenience, speed and can be used across countries and continents, however cryptocurrency which is currently circulating also still have weaknesses, including there is no supervisory authority, even many countries have disagreements over the legality of this cryptocurrency. The debate about the pros and cons regarding to the use of cryptocurrency becomes dynamics among the experts including the scholars who have study from Islamic point of view. This research aims to examine the dynamics of using cryptocurrency from ushul fiqh point of view, where the methods which used in this research are al-qur'an, al-Hadith, Qiyas and Sad-Adzariyah. Basically the use of cryptocurrency is allowed to meet cetain conditions that is by removing batil elements as in Quran surah An-Nisa verse 29, those batil elements are gharar and mayshir. Moreover, cryptocurrency must also have clear legality in a country for security in their use.

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Journal Info

Abbrev

IJEBAS

Publisher

Subject

Economics, Econometrics & Finance

Description

This journal aims to examine new breakthroughs and current issues regarding advances in science and technology in the fields of Economics, Business, Sharia Administration, Accounting and Agriculture ...