Adapting Bitcoin between jurisprudential differences and legitimate purposes

Abstract

This research aims to illuminate jurisprudential differences in the adaptation of Bitcoin. It first addresses the resolution of disputes surrounding Bitcoin and examines the reasons for variations in its adaptation. The study presents the cryptocurrency’s characteristics, issuance method, and trading mechanisms, all in the context of legal considerations. The research adopts an inductive and descriptive approach suitable for its subject matter. It comprises an introduction and two main sections. In the introduction, the study defines Bitcoin, outlines its characteristics, and discusses the current practices associated with it. The first section explores the diverse jurisprudential adaptations of Bitcoin after resolving the disputes and identifying the factors contributing to the differing viewpoints. The second section examines how legal objectives influence the adaptation of Bitcoin. The research concludes with several key findings and recommendations. These include the necessity to legalize trading in Bitcoin and other cryptocurrencies, as well as the importance of finding alternatives that align with Islamic economic principles, meeting both efficiency and legal criticism requirements.