In the Moslem Countries like Saudi Arabia, Qatar, United Arab Emirates even Brunei Darussalam etc were enacted Islamic Economy System based on sharia. Is It Possible that The Moslem Countries can accept the cryptocurrencies system in their economic system? What's your opinion?
Is bitcoin halal? From my reading, yes it is. But, modern currencies are not. Bitcoin can be considered both a currency and a payment network and this distinction is important because the Sharia principles that apply vary. As a payment network, bitcoin is halal. Why? It's because bitcoin is unlike conventional bank network where the currencies are based on debt with usury which is prohibited in Islam. Bitcoin is based on a proof of work which is impermissible in Islam.