Notes

*The Ruling Of Impermissiblity On Using Crypto Currencies Like Bitcoin*

*by Shaykh Rā'id Al-Mahdāwī*

*💥New💥*

*The Responses Of Shaykh Rā'id bin ‘Abdul-Jabbār Al-Mahdāwī (may Allāh, the Most High, preserve him) to the questions from some students of knowledge.*

*Question1️⃣ *

*"May Allāh treat you well, Abū Khālid from ‘Irāq, asks what is the ruling on dealing in crypto currencies such as (Bitcoin) and others? Where you purchase it online, if its price rises, you sell it."*

*The response:*

*"It's impermissible to deal in Bitcoin, because it is a virtual currency that is subject to substantial price swings/volatilities without limits/ parameters and rules/laws governing it, as it is not subject to state rules/regulations. Consequently, it has a high-risk and waste of money therein, as it is not a real or recognized currency and it is not money that can be utilized (that is, it has any considerable legitimate value) And dealing with it involves deception/ambiguity in one of the widest ways. Also, many of those utilizing it use it for money laundering, drug trafficking, and terrorist financing, because it is difficult to track them and track their (i.e. financial) dealings through it. There are many other aspects of high-risk in dealing with it. And Allāh knows best."*

*🌀May Allāh protect our Mashāyikh upon obeying Him and to benefit us and the Muslims with their knowledge. All praise belongs to Allāh, Rabb of Al-Ālamīn.*

*Prepared and presented by Abī Al-Ḥuṣayn Ḥasan Aṭ-Ṭīṭī*

*8 Rabī`Ath-Thānī/ 1442 AH*

*⌚1: 57 / Monday evening*



Translated by Abū Marthad Munthir Haile Al-Amrīkī Al-Ḥimbirtāwī At-Tijrīnī


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