I think BTC is very Islamic friendly. because it's free of any kind of Govt and bank involvement. it is not controlled by any law. govt and bank. so it's very suitable currency for Islamic community.
BTC is not Gold but it's like gold. because it's price depends on the demand and supply. govt can't increase it's price or decrease it like paper currency.
And Adab Building Islamic Crypto Exchange. which is another good innovation. but some people calling it scammer. so I want to be neutral and see what happens.
Aamir1 thank you for your post.
Would you say that any exchange is an Islamic crypto exchange if it is raising funds to pay for salaries, developers, servers, hosting, publicity and everything else from ANY source without vetting?
In your opinion is it an Islamic crypto exchange if they accept money from:
pimps
prostitutes
porn actors
those currently behind bars in prison serving prison sentences
those that sell drugs/narcotics
those that manufacture, test and sell weapons
those that own publications online/print media cursing Muslims and those that have anti-Muslim agenda
those that own, transport or sells alcoholADAB Solutions cannot borrow from or financially transact with someone whose wealth is completely, or predominantly, haram. If it is predominantly halal, then financial transaction, borrowing, accepting gifts, etc. would be permissible. If one is unsure, then the default assumption is that most of their wealth is lawful. ADAB Solutions doing KYC and AML on their investors and need not investigate deep into the wealth of investor, but rather the basis is what is apparent.
If the Majority of the profit the company makes is from a halal activity and you are not directly involved in the smaller haram aspect of it, then you aught to assume that your income is from the halal, and you won't be culpable.
If you find out that part of received money from haram sources best to give it to charity because you can't do anything else with it. But you shouldnt expect any reward for giving it to charity.
and Allah ta'ala knows best.