Islam and Cryptocurrencies

The notion of crypto money and the system upon which it is built must be examined by the sciences of religion and law, as well as informatics and economics, in order to be properly positioned within the larger picture. Rather than rushing to support or oppose the cryptocurrency system, multidimensional judgements should be made on the subject by considering the transformation that such concepts and systems as stock markets, banking, insurance, and loans have undergone. Good knowledge of cryptocurrency is feasible by familiar-izing oneself with important concepts and techniques and conducting a healthy analysis of them. This study, after briefly examining the concepts of money, crypto money, and blockchain technology, is intended to offer a small contribution to the ongoing effort to analyze the positive and negative aspects of cryptocurrencies in light of Islamic law in the present environment.