Summary of Feqh - Section 8: Digital Currency (such as Bitcoin <span class="tip"> [2169] Bitcoin: is a digital, electronic, encrypted currency that is traded only over the Internet. It has no physical existence and no central regulatory entity backing it. Transactions between users are done directly without an intermediary using encryption. See: "Official website of Egyptian Fatwa Committee", "Official website of the General Authority of Islamic Affairs and Endowments in the UAE", "Official Wikipedia website". It is defined on the Bitcoin website as: "a collective network, providing a new payment system and completely electronic currency. It is the very first decentralized peer-to-peer payment network that is fully powered by its users without any central authority or middlemen". See: https://bitcoin.org/ar/faq </span> and others)

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Section 8: Digital Currency (such as Bitcoin <span class="tip"> [2169] Bitcoin: is a digital, electronic, encrypted currency that is traded only over the Internet. It has no physical existence and no central regulatory entity backing it. Transactions between users are done directly without an intermediary using encryption. See: "Official website of Egyptian Fatwa Committee", "Official website of the General Authority of Islamic Affairs and Endowments in the UAE", "Official Wikipedia website". It is defined on the Bitcoin website as: "a collective network, providing a new payment system and completely electronic currency. It is the very first decentralized peer-to-peer payment network that is fully powered by its users without any central authority or middlemen". See: https://bitcoin.org/ar/faq </span> and others)

The position regarding digital currency is that if it is not Shariah compliant and does not meet legal standards, which make it internationally recognized as currency and treatable as a commodity exchangeable with other goods, it is not permissible to engage in transactions with it. This is due to the potential harm arising from speculation and ignorance in its use and standards.

However, if the digital currency adheres to recognized standards, legally and in light of the Shariah, it is treated like other modern currencies. It is currently prohibited by the Egyptian Fatwa Committee, The Iraqi Fatwa Committee, and The General Authority for Islamic Affairs in the UAE, The Palestinian Fatwa Committee, [2170] See: "Official website of Egyptian Fatwa Committee - Fatwa number: 14139, dated December 28, 2017", "The official website of Iraq's Dar Al-Ifta - Fatwa number: 1583, dated Ramadan 5, 1442 Hijri, corresponding to April 17, 2021", "Official website of The General Authority of Islamic Affairs and Endowments in the UAE - Fatwa number: 89043, dated January 30, 2018", "Official website of Palestinian Dar Al-Ifta", also a number of contemporaries have declared its prohibition. however it has been approved by some contemporary scholars.