CRYPTOCURRENCY AS MONEY: ISLAMIC MONETARY SYSTEM PERSPECTIVE

Prasetiyo, Luhur and Janah, Unun Roudlotul (2022) CRYPTOCURRENCY AS MONEY: ISLAMIC MONETARY SYSTEM PERSPECTIVE. Al-Tahrir: Jurnal Pemikiran Islam, 22 (1). pp. 71-94. ISSN P-ISSN: 1412-7512 E-ISSN: 2502-2210

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Abstract

The existence of cryptocurrencies that have emerged
and developed since the last decade is still a debate, both in
terms of function, regulation and compliance with Islamic
economic principles. Different countries give different attitudes
towards cryptocurrencies. Some countries accept its existence,
while some other countries reject it. This is inseparable from
the question that arises whether cryptocurrencies function as
institution that is responsible for and regulates the circulation
of cryptocurrencies and no underlying assets is also another
problem. This article aims to see how cryptocurrencies are
positioned based on their nature, characteristics and functions
indicate that cryptocurrencies currently carry out more functions
as a store of value that are not in accordance with the Islamic
and means of payment carries a fairly large risk. This violates the
principle of property protection in the maqasid al-shari’ah view

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