Bitcoin in Shari'a Review
Here is a recording of scientific studies by Dr. Ustadz. Erwandi Tarmizi, MA in a question and answer session at Muamalah School of Malang 2nd Class, related to Bitcoin Law.
The conclusion of the fatwa Dr. Erwandi Tarmizi related Bitcoin is Haram.
Some of the things that underlie the fatwa are:
- Bitcoin is not a currency recognized by the Indonesian government.
- Unclear origin of bitcoin traded or used as an investment instrument is a form of Public Fooling (read: investment bodong)
- Bitcoin Is an Artificial Value form that is an artificial value that has no true value.
- Bitcoin other than not recognized as currency by the state of Indonesia is also not recognized in many other countries.
- Sale and buy Bitcoin contains a large Gharar, because it is not clear the specification and value of it, the increase in high value in just a short time. Plus does not happen qabdh (handover).
- Sale and purchase or bitcoin investing contains gambling because the purpose of people buying bitcoin expect profit increase profit.
- If the force that bitcoin such as buying and selling currency then contains Riba because buying and selling currency by online and not cash is a sale and purchase Riba.
Additional offline sessions:
This fatwa is also in harmony with the Policy of Bank Indonesia which prohibits Bitcoins as a medium of exchange. "We prohibit Bitcoin from being transacted in PJSP, Payment System Service Provider." And OJK also prohibits this type of investment. "(Bitcoin Investment) has not been licensed yet. This investment has not been set yet, because it has not been done openly, "said Chief Executive of OJK Capital Market Supervisor, Hoesen.
Theoretically, religion forbids because it contains usury, gharar (unclear), maysir (speculation). Legally positive also prohibit.
Ref: Frequently Asked Questions and Discussion Participants SMI Malang force 2, Material Sale and Purchase, Riba and Gharar. Wednesday, December 13, 2017
http://sekolahmuamalah.com/malang
Author: Ibn Fatah - SMI
Via Lingga Wijaya Santi
[Copas & PostedBy Fp Ittiba 'Rasulullah].
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