The International Union of Muslim Scholars presented a fatwa about digital currencies, including “Bitcoin”, which are not adopted by countries.
The union mentioned before, forbid dealing with these currencies, considering that they “do not allow the basics of currencies or the conditions of money, according to jurists, economists and other specialists.”
The authority also considered, “It has none of the functions of money and currencies, the most important of which is that it is a general medium of exchange, a measure of values and a storehouse of wealth.”
The authority mentioned before, added that these currencies are “not a commodities,” and “they are not a financial asset.”
The International Union of Muslim Scholars considered that these currencies do not represent any real existence, and were not issued by any sponsor side, “from a country that approves them or a central bank that guarantees these currencies.”
On the other hand, dealing with these currencies has “led to great evils, and grave harms, to individuals, society and the state.”