Exchange Riba in Cryptocurrency Transactions

Document Type : Original Article

Authors

1 M.A. Graduate in Intellectual Property Law, University of Tehran, Tehran, Iran.

2 PhD Student in Islamic Jurisprudence and Principles of Islamic Law, Imam Khomeini Research Institute, Tehran, Iran.

3 Associate Professor, Department of Islamic Jurisprudence and Law, University of Tabriz, Tabriz, Iran.

Abstract

Cryptocurrencies have acquired an important place in contemporary economic exchange among people and states. Because exchange riba may occur in these transactions, research is needed to prevent Muslims from entering usurious dealings. The core question is how exchange riba applies to cryptocurrencies, which are countable goods. Using a descriptive-analytical method and library sources, the article reaches two main conclusions. First, riba applies to countable goods as well. Only if a solitary report can qualify the general prohibition of riba may the sale of one garment for two garments, and not all goods traded by inspection, be excepted. Second, cryptocurrencies are countable goods; equality must therefore be observed in their exchange. Accordingly, tokens may not be exchanged for more tokens of the same kind, nor coins for more coins of the same kind.

Keywords

Main Subjects

References

 

Reference

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Studies of Islamic Jurisprudence and Basis of Law
Volume 19, Issue 52 - Serial Number 52
January 2025
Pages 265-290

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