Post
Topic
Board Politics & Society
Re: There is lot's of confusion in people about whether it's allowed to invest or no
by
suzanne5223
on 07/04/2023, 23:03:27 UTC
I think depends on personal understanding and certain rules and regulations set up by the government of a certain Islamic country because from what I read some Islamic countries from the East are planning something huge toward the implementation of crypto, especially Bitcoin while some are not making a positive move towards it.

I also heard something about it, I can't remember what it was called but it sounded like "Islamic coin" or "Muslim coin." Some Islamic scholars believe that buying and selling digital currencies is permissible. While some scholars argue that according to Sharia law, it is not permissible to keep something and wait for its value to rise in the future in order to sell it, this is not permitted in Islam. Just like a farmer who hides his harvested crop until the price is high and then brings it out to sell.
It's an Islam coin and it was said to be a "Shariah-Compliant Ecosystem operating on the HaqqNetwork blockchain". However, it is hard to understand their Shariah rule perspective when it comes to technology like cryptocurrency no matter their perspective we'll always be one or more that welcome the crypto idea.
Having said that, I wasn't talking about the coin I was talking about countries like Dubai and some other East countries that will possibly embrace cryptocurrency.