Crypto Currency Trading in Islam: An Attempt to Explore the Law amidst Technological Advances

Authors

  • Imam Sujono Sekolah Tinggi Agama Islam Taruna Surabaya, Indonesia https://orcid.org/0000-0002-1750-0816
  • Muhammad Habibur Rochman Sekolah Tinggi Agama Islam Taruna Surabaya, Indonesia
  • Abdulloh Afifil Mu'ala Sekolah Tinggi Agama Islam Taruna Surabaya, Indonesia

DOI:

https://doi.org/10.54298/ijith.v4i1.395

Keywords:

Crypto Currency, Trading, Islamic Law, Technological Advances

Abstract

This study aims to find out how the crypto trading law and the status of money generated from the trading results. This study uses a normative legal method with a descriptive analysis approach. Legal materials are obtained from the Bahtsul Masail decision of PWNU East Java, Bahtsul Masail with PWNU in Yogyakarta, and Bahtsul Masail Islamic Law Firm. The results of the study show that trading crypto is permitted by Islamic law as long as there is no gharar. This study implies that people who trade crypto must have sufficient knowledge about crypto currency.

Downloads

References

A Wahid, N., Amanatillah, D., & Fitri, C. D. (2023). From Fiqh to Finance: Assessing Bitcoin Status in Indonesian Monetary System. Share: Jurnal Ekonomi Dan Keuangan Islam, 12(2). https://doi.org/10.22373/share.v12i2.17762

Abadi, K., Ahmad Taufiq, & Rizka Roikhana. (2023). Cryptocurrency and Crypto Assets in the Perspective of Islamic Legal System Philosophy. Hikmatuna : Journal for Integrative Islamic Studies, 9(2). https://doi.org/10.28918/hikmatuna.v9i2.1216

Alifia, A. N. (2023). THE LAW OF TRANSACTIONS OF VIRTUAL LAND SALE AND PURCHASE IN METAVERSE FROM THE PERSPECTIVE OF FIQH MU’AMALAH. Journal of Indonesian Comparative of Syari’ah Law, 6(1). https://doi.org/10.21111/jicl.v6i1.9865

Amany, A. N., Putri, F., & Pratama, B. C. (2022). Risks of Cryptocurrency Investment from the Perspective of Sharia Economic Law. Proceedings Series on Social Sciences & Humanities, 7. https://doi.org/10.30595/pssh.v7i.465

Anisa, D., Anggraini, T., & Tambunan, K. (2023). ANALISIS CRYPTOCURRENCY SEBAGAI ALAT ALTERNATIF BERINVESTASI DI INDONESIA. Owner, 7(3). https://doi.org/10.33395/owner.v7i3.1698

Benuf, K., Mahmudah, S., & Priyono, E. A. (2020). Metodologi Penelitian Hukum sebagai Instrumen Mengurai Permasalahan Hukum Kontemporer. Jurnal Gema Keadilan, 7(1).

Billah, M. M. (2022). Crypto-Currency Operation and its Islamic Prospective. Journal of Islamic Banking & Finance, 39(2).

Fajaruddin, A., Azizy, D. F., Parojai, M. R. P., Husni, I. S., & Tambusai, M. K. (2023). THE CONCEPT OF CRYPTOCURRENCY IN ISLAM. FINANSIA : Jurnal Akuntansi Dan Perbankan Syariah, 6(1). https://doi.org/10.32332/finansia.v6i1.6524

Genda, S. A., Jasmin, S. P., & Sari, M. (2024). JUAL BELI SAHAM CRYPTO DALAM PERSPEKTIF FIQH MUAMALAH. Jurnal Al-Kharaj Studi Ekonomi Syariah Muamalah Dan Hukum Ekonomi, 4(1), 52–65. https://doi.org/10.30863/alkharaj.v4i1.6537

Idrus. (2021). Halal Haram Cryptocurrency. Al-Tasyree: Jurnal Bisnis, Keuangan Dan Ekonomi Syariah, 13(02). https://doi.org/10.59833/altasyree.v13i02.300

Islam, M. R., Faruque, O., & Kamruzzaman, A. (2018). Bitcoin: Would it Be Another Alternative for Global Currency System? SSRN Electronic Journal. https://doi.org/10.2139/ssrn.3188690

Jati, H. S., & Zulfikar, A. A. (2021a). Transaksi Cryptocurrency dalam Pandangan Hukum Ekonomi Syariah. Al-Adalah: Jurnal Hukum Dan Politik Islam, 6(2). https://doi.org/10.35673/ajmpi.v6i2.1616

Jubaedah, D., Ahyani, H., Putra, H. M., Prakasa, A., & Mutmainah, N. (2022). LEGAL ANALYSIS OF CRYPTO INVESTMENT IN ERA 4.0 VIEW FROM CREDO THEORY. Diponegoro Law Review, 7(2). https://doi.org/10.14710/dilrev.7.2.2022.262-278

Khan, D. M. A., & Zamin, M. M. (2018). The Legal Status of ‘Bit coin’ in Islamic Law. AFKAR Research Journal of Islamic Studies, 2(2).

Kusuma, T. (2020). Cryptocurrency dalam Perdagangan Berjangka Komoditi di Indonesia Perspektif Hukum Islam. TSAQAFAH, 16(1). https://doi.org/10.21111/tsaqafah.v16i1.3663

Kusuma, T., Zainal, V. R., Subagja, I. K., & Basalamah, S. (2020). The Perspective of Islamic Law on Cryptocurrency for Commodity Future Exchange in Indonesia. JOURNAL OF ISLAMIC STUDIES AND CULTURE, 8(1). https://doi.org/10.15640/jisc.v8n1a1

Lateh, N., & Rejab, S. N. M. (2021). Sharia Issues About Bitcoin Cryptocurrency Transactions. In Enhancing Halal Sustainability. https://doi.org/10.1007/978-981-33-4854-7_11

Maljichi, D. (2018). Study Approach From the Prism of Islamic Finance and Banking on Virtual Currencies. Qasje Studimore Mbi Monedhat Virtuale Nga Prizmi I Financave Dhe Bankimit Islam., 29.

Meriyati, M., Arifin, I., Arismanto, D. F. P., Rizal, M., & Mustamiruddin, M. (2023). Hukum dan Eksistensi Jual Beli Crypto untuk Investasi Dalam Perspektif Ekonomi Islam dan Ekonomi Sosial “Studi Literasi dan Komparasi pada Masyarakat.” Jurnal Justisia Ekonomika: Magister Hukum Ekonomi Syariah, 7(2). https://doi.org/10.30651/justeko.v7i2.20456

Nugroho, B. A. (2023). THE STABILITY OF ISLAMIC CRYPTOCURRENCIES AND COPULA-BASED DEPENDENCE WITH ALTERNATIVE CRYPTO AND FIAT CURRENCIES. ISRA International Journal of Islamic Finance, 15(2). https://doi.org/10.55188/ijif.v15i2.543

Qaruty, R. M. Al. (2021). Virtual Currencies & Islamic Law: Origin, Features And Sharia Rulings. Journal of Legal, Ethical and Regulatory Issues, 24(Special Issue 1).

Ramhormozi, L. A., Mehdipour, M., & Alizadeh, M. (2021). Establishment of a Digital Court to Resolve International Disputes Peacefully in Cryptocurrency. Journal of Management and Accounting Studies, 9(2).

Rusydiana, A. S. (2025). Discussion on Islamic Finance and Cryptocurrency. Islamic Capital Market, 2(2). https://doi.org/10.58968/icm.v2i2.602

Safira, S., & Rofiq, M. A. (2023). Diskursus Pengenaan Pajak pada Transaksi Kripto Perspektif Pemikiran Yusuf Qardhawi. Muslim Heritage, 8(2). https://doi.org/10.21154/muslimheritage.v8i2.6092

Sawitri, N. N. (2021). Cryptocurrencies in A Global Islam Economy (Study Mini Review). Journal of Accounting and Finance Management, 1(6). https://doi.org/10.38035/jafm.v1i6.209

Setya Negara, A. I. (2023). The Phenomena of The Cryptocurrency Fall in The Sharia Economic View. Open Access Indonesia Journal of Social Sciences, 7(2). https://doi.org/10.37275/oaijss.v7i2.222

Siregar, E. S., Manurung, W., Gunawan, R., Dzulkhairil, M., Siagian, R., Ardiansyah, M., Lubis, R., & Sitorus, A. (2023). Kepastian Hukum Aset Kripto sebagai Instrumen Investasi dalam Persfektif hukum islam dan Hukum Positif . El-Mujtama: Jurnal Pengabdian Masyarakat, 4(1). https://doi.org/10.47467/elmujtama.v4i1.3249

Tugushev, R. A. (2023). Islamic Law on Cryptocurrencies. Islam in the Modern World, 19(3). https://doi.org/10.22311/2074-1529-2023-19-3-83-98

Downloads

Published

2025-04-25

How to Cite

Sujono, I., Rochman, M. H., & Mu’ala, A. A. (2025). Crypto Currency Trading in Islam: An Attempt to Explore the Law amidst Technological Advances. International Journal of Islamic Thought and Humanities, 4(1), 81–87. https://doi.org/10.54298/ijith.v4i1.395

Issue

Vol. 4 No. 1 (2025): International Journal of Islamic Thought and Humanities

Section

Articles

License

Copyright (c) 2025 Imam Sujono, Muhammad Habibur Rochman, Abdulloh Afifil Mu'ala

Creative Commons License

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Authors who publish with this journal agree to the following terms:

  1. Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution-ShareAlike 4.0 that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
  2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
  3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).