How does Mufti Menk view the permissibility of Bitcoin?

3 answers

• May 05, 2022 · 3 years ago
  Mufti Menk believes that the permissibility of Bitcoin depends on its compliance with Islamic principles. According to him, if Bitcoin is used for lawful purposes and does not involve any prohibited activities such as gambling or usury, it can be considered permissible. However, he also emphasizes the need for caution and advises individuals to seek guidance from knowledgeable scholars in Islamic finance before engaging in Bitcoin transactions.
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• May 05, 2022 · 3 years ago
  In Mufti Menk's view, Bitcoin can be permissible if it is used in a manner that aligns with Islamic principles. This means that it should not be involved in any haram (forbidden) activities and should not be used for speculative purposes. He suggests that individuals consult with Islamic scholars who have expertise in finance and technology to understand the permissibility of Bitcoin in their specific circumstances.
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• May 05, 2022 · 3 years ago
  According to Mufti Menk, the permissibility of Bitcoin is a complex issue that requires careful consideration. While some scholars argue that it is not permissible due to its decentralized nature and potential for illicit activities, others believe that it can be allowed if used responsibly. Mufti Menk advises individuals to seek guidance from qualified scholars who can provide a comprehensive understanding of the Islamic principles involved in Bitcoin transactions.
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