Crypto-currency Spot Trading

QUESTION:

Is it permissible to buy and hold Crypto-currency (spot)? Are there some Halaal coins, or is it not permissible in general? Some restaurants and shops accept selected Crypto-currencies as a form of actual payment. Would this transaction be permitted?

ANSWER:

Our Darul Ifta has reservations regarding Shari’ah compliancy of Crypto-currency / Bitcoin. We, therefore, advise abstention. If the Crypto-currency is being sold on spot, then too we advise abstention from such transactions, due to possession not being obtained immediately, despite other issues. Our Ulama have not accepted it as a valid currency. Hence, one should rather use the currency of the country to make payments, purchases, etc.

Consider the following Hadith:

عن النعمان بن بشير، قال: سمعته يقول: سمعت رسول الله صلى الله عليه وسلم، يقول: – وأهوى النعمان بإصبعيه إلى أذنيه – «إن الحلال بين، وإن الحرام بين، وبينهما مشبهات لا يعلمهن كثير من الناس، فمن اتقى الشبهات استبرأ لدينه، وعرضه، ومن وقع في الشبهات وقع في الحرام….. إلخ. (صحيح مسلم #1599)

Hadrat Naumaan Bin Basheer Radiallahu Anhu says that he heard Rasulullah Sallallahu Alaihi Wasallam saying – Nu’maan indicated towards his ears-, “Verily Halaal is clear and Haraam is clear; and in between them are doubtful things which most of the people are unaware of. The one who refrains from doubtful things will protect his Deen, whilst the one who falls into doubtful things will fall into Haraam.”

From the above Hadith, the importance of refraining from doubtful things is clearly understood.

ALLAH TA’ALA ALONE IN HIS INFINITE KNOWLEDGE KNOWS BEST!

ANSWERED BY:

Mufti Abdul Kader Fazlani

Date: 03 Rabi-ul-Aakhir 1448 / 15 September 2026

CHECKED AND APPROVED BY:

Mufti Yacoob Vally Saheb