This research was carried out in order to gain a better understanding of cryptocurrencies, as well as the position of Islamic law in relation to them as a form of alternative investment in Indonesia. This research is a qualitative investigation utilizing phenomenological and descriptive methodologies. The data that was used came from the library and was backed by a number of papers and books that were linked to the issues that were investigated in this study using a syar'i normative methodology. It is possible to invest in Crytocurrency, trade Crytocurrency, or utilize Crytocurrency as a form of payment. In addition to Bitcoin, several other forms of Crytocurrency are also seeing widespread use. Different points of view on Crytocurrency can be found within the community, which can give rise to both pros and negatives. Because there is no legislation in Indonesia that recognizes Crytocurrency as a form of payment or currency, it is illegal to utilize Crytocurrency there. Since the price is still volatile and there are still flaws in the security, the discussion around cryptocurrencies such as Bitcoin has not yet reached an advantageous point. Some Ulama say, from the perspective of Islamic law, that this kind of digital currency does not have clarity and cannot be physically seen, allowing for the possibility of fraud. As a result, they consider Crytocurrency to have aspects of Gharar. The usage of Crytocurrency in investment and trading makes it inseparable from speculation about the price, which is highly volatile and is solely used as a tool for making profits and losses. Maysir is a component of Crytocurrency. Because the significance of this crypto currency spans such a wide range of areas, particularly those pertaining to technology and the economy.
Suffian Haqiem Nor Azelan, Asmak Ab Rahman, Mohd Shahid Mohd Noh
Penggunaan teknologi baru dalam bidang kewangan ataupun fintech telah mengubah sistem-sistem kewangan sedia ada. Salah satu produk fintech yang memberi kesan kepada persekitaran kewangan global ialah mata wang kripto. Lebih daripada sepuluh ribu jenis mata wang kripto yang berbeza wujud sekarang, dengan jumlah nilai pasaran $1.30 trilion. Mata wang kripto juga dilihat berpotensi untuk menjadi alternatif terhadap sistem mata wang sedia ada. Berdasarkan sejarah, sistem mata wang dunia berevolusi dan berubah sesuai dengan peredaran zaman dan kepesatan perkembangan teknologi. Timbul persoalan adakah mata wang kripto mampu untuk menggantikan mata wang sedia ada suatu hari nanti. Kajian ini akan membincangkan konsep mata wang kripto sebagai mata wang dari perspektif syariah.
The development of the digital era is increasingly widespread where some of them do provide many conveniences, especially in terms of economic activity services. As an example of the emergence of cryptocurrencies or cryptocurrencies as digital currencies, these cryptocurrencies are designed or designed to be traded through one cryptographic technology or what is commonly called a block chain which is decentralized in nature to carry out a trade or transfer from one party to another. In such a way the perpetrators are anonymous and there is no law governing and being responsible for this. Even though it provides a number of advantages for its users, the existence of cryptocurrency in Indonesia is still experiencing debate both in terms of regulation and legality, especially from the perspective of Islamic law for its use.This research was conducted to review cryptocurrencies which are widely used in society such as in buying and selling transactions, investments, mining, trading, and other things both from the definition, types, and legal arguments from an Islamic legal perspective. This research is a library research (library research) qualitative in nature. The data analysis technique in this study is descriptive-analytical with a normative juridical approach to Islamic law. Based on a number of references cited in this study, it is known that investing in cryptocurrency has a very high risk because its value can rise or fall drastically and is unpredictable. In addition, cryptocurrencies are also considered to be able to maintain the value of one's wealth far better than cash, even gold. Then the practice of buying and selling digital currency (cryptocurrency) is quite interesting where it offers quite high flexibility and can be done anytime and anywhere around the world. On the other hand, the jury of contemporary scholars considers that any form of cryptocurrency, be it bitcoin, aternity, or other coins cannot be called money, thus giving rise to various controversies about the legal use of these cryptocurrencies.
Cryptocurrencies have become a significant phenomenon in the global financial world. However, in the context of Islamic law, the question of the validity and regulation of cryptocurrencies remains a complex debate. This research aims to conduct a normative juridical analysis regarding cryptocurrency regulation in Islamic law, focusing on case studies in Indonesia. The research method used is a normative juridical approach, which involves collecting and analyzing legal data from relevant legal sources, such as laws, regulations, and religious fatwas. This legal data is then analyzed using legal arguments and theoretical approaches to understand and explain the legal status of cryptocurrencies in Islam. The research identifies key issues emerging in cryptocurrency regulation in Islamic law in Indonesia, including usury, gharar, maysir, and consumer protection. In this normative juridical analysis, researchers explore existing legal interpretations, relevant legal documents, and views of Islamic scholars and scholars related to the legitimacy and halalness of cryptocurrencies. The results of this study provide an in-depth understanding of how cryptocurrencies can be categorized within the framework of Islamic law, as well as the legal implications arising from the use and trading of cryptocurrencies. The research also identifies loopholes and challenges in cryptocurrency regulation in Islamic law in Indonesia and provides recommendations for the development of more effective regulation and in accordance with Islamic principles.
Dewasa ini perkembangan teknologi sangat pesat. Hal ini dapat kita rasakan dalam transaksi jual beli melalui e-commerce, sehingga memudahkan masyarakat untuk berbisnis lebih cepat, aman dan rahasia. Sudah ada teknologi bernama Bitcoin yang dianggap sebagai mata uang digital. Bitcoin mewakili sistem moneter dunia yang benar-benar terkait dengan kekuatan penawaran dan permintaan serta independen dan tidak terpengaruh oleh pihak mana pun. Jenis penelitian yang digunakan dalam penelitian ini adalah penelitian kualitatif kepustakaan (library search). Penelitian ini bersifat indikatif, yaitu. itu mengevaluasi dan menjelaskan penentuan hukum apakah penggunaan mata uang Bitcoin sebagai alat transaksi jual beli diizinkan atau tidak. Metode yang digunakan adalah metode dokumentasi. Analisis penelitian ini menggunakan analisis deduktif. Hasil penelitian ini menunjukkan bahwa praktik transaksi jual beli dengan dengan Bitcoin baik bertujuan untuk kebutuhan alat tukar atau bisnis investasi khususnya pada transaksi keuangan online termasuk daripada syubhat, dan sesuatu yang syubhat itu hendaklah ditinggalkan, karena tidak membawa manfaat sekaligus yang menjadi tujuan daripada syari’at Islam yaitu kemaslahatannya sendiri tidak akan bisa terwujud.
One form of utilizing the latest digital technology in Copyright is the Non-Fungible Token (NFT). Using a blockchain system to verify the authenticity of works, NFT can be a promising solution for intellectual property protection. However, due to the development of new technologies, research is still needed on how the legal problems of using Non-Fungible Token technology are related to Copyright. This research is a normative juridicial research using primary and secondary data. Data was collected using literature study and internet access, as well as data analysis using qualitative descriptive methods. The results of the research and discussion concluded that NFT technology still has several problems. The problem that occurs in the use of NFT is that there is no related regulation that regulates NFT, so there is no legal certainty to protect the public. Another problem is the theft of copyrighted works belonging to people who are converted into NFT. This is due to the lack of maximum verification of copyrighted works by the NFT marketplace.
Dalam dunia Metaverse, diperkenalkan aset atau benda yang hampir sama dengan aset atau benda yuang berada dalam dunia nyata. Non-Fungible Token atau yang sering disebut dengan NFT yang merupakan sebuah token digital yang ditautkan dengan sistem besar Blockchain, yang dapat diperdagangkan. Sebagai obyek yang dapat diperdagangkan, maka perlu dicermati sifat kebendaan dari NFT dari sisi hukum perdata. Hal ini berguna untuk menentukan proses peralihan kepemilikan dari NFT itu sendiri. Di sisi lain tiudak semua negara sudah memiliki ketentuan yang mengatur mengenai aset digital. Unidroit Principles on Digital Assets and Private Law memberikan petunjuk dalam mengatur mengenai kepemilikan aset digital yang dilihat dari sisi hukum perdata.
Christopher Panal Lumban Gaol, Utzinger Morales, Vanella Lopez
Cryptocurrency has become a significant phenomenon in the global financial world. However, within the context of Islamic law, questions regarding the validity and regulation of cryptocurrency remain a complex debate. This research aims to conduct a normative juridical analysis of cryptocurrency regulation in Islamic law, with a focus on a case study in Indonesia. The research method employed is a normative juridical approach, involving the collection and analysis of legal data from relevant sources, such as laws, regulations, and religious fatwas. This legal data is then analyzed using legal arguments and theoretical frameworks to understand and explain the legal status of cryptocurrency within Islam. This study identifies key issues that arise in the regulation of cryptocurrency in Islamic law in Indonesia, including riba (interest), gharar (uncertainty), maysir (gambling), and consumer protection. Through this normative juridical analysis, the researcher explores existing legal interpretations, relevant legal documents, and the perspectives of Islamic scholars and experts regarding the validity and permissibility of cryptocurrency. The findings of this research provide an in-depth understanding of how cryptocurrency can be categorized within the framework of Islamic law, as well as the legal implications arising from the use and trading of cryptocurrency. Additionally, this study identifies gaps and challenges in the regulation of cryptocurrency in Islamic law in Indonesia and provides recommendations for the development of more effective regulations that align with Islamic principles.
Penyebaran hoaks dan kampanye hitam di sosial media menjadi permasalahan krusial selama Pemilu karena mampu menurunkan integritas dan menciderai nilai Demokrasi, sehingga stakeholders perlu membangun solusi inovatif untuk mencegah dan menanggulanginya. Tulisan ini bertujuan untuk memberikan solusi pencegahan dan penanganan penyebaran hoaks dan kampanye hitam di seluruh kelompok pengguna pada Pemilu 2024. Kebaruan penelitian ini terletak pada pemberian solusi yang komprehensif, sistematis dan terintegrasi mulai dari tahapan perencanaan, pelaksanaan, dan pengawasan. Metode penelitian ini menggunakan pendekatan kualitatif dengan studi kepustakaan. Hasil penelitian menunjukkan bahwa Smart Contract Logic (SCL) dapat mengurangi penyebaran hoaks dengan mendeteksi karakteristik dan asal pesan serta membatasi aliran hoaks. SCL juga secara reaktif dapat memblokir pesan palsu sehingga mengurangi penyebaran hoaks di seluruh kelompok pengguna dalam seluruh tahapan Pemilu. Adapun Penggunaan Sistem Deteksi Hoaks Otomatis dapat digunakan untuk mengetahui keaslian postingan seseorang di media sosial seperti berita, twitter, facebook serta menemukan tulisan serupa di media sosial lainnya atau website sehingga meningkatkan keakuratan dan keandalan berita. Penyelenggara Pemilu dan seluruh stakeholder dapat ikut andil dalam penanganan hoaks di setiap tahapan Pemilu dengan melaksanakan sosialisasi, pendidikan Pemilih serta pengawasan dan evaluasi secara berkelanjutan.
The development of investment law in Indonesia, especially in digital assets, has experienced significant developments. Non-Fungible Token (NFT) is a form of digital asset that is currently widely found in the community. However, from a legal perspective, there is no regulation on NFT and how the legality of NFT transactions is related to the use of cryptocurrencies in it. Having established from the background above, this research aims to analyze the urgency of regulating NFT and how basically the legal construction of the NFT in the contract law perspective. This research is normative research using statute and conceptual approaches. The results of the study finds that the urgency of regulating the legal construction of NFT transactions in Indonesia is to provide legal certainty to investors and is related to the legality of NFT transactions in Indonesia if it is associated with the validity of cryptocurrencies. The legal construction of NFT transactions in Indonesia is that the construction is not a sale and purchase agreement, but instead the legal construction refers to exchange agreement as stated in Article 1541 BW whereas cryptocurrency and NFT here will be given extensive meaning as goods in order to comply with the provisions of Article 1320 of BW to fulfill the objective requirements, in particular, the halal cause.
Non-fungible Token atau NFT telah mengambil perhatian masyarakat umum. Sekarang, publik berlomba-lomba untuk mencari cara untuk menjual dan membeli NFT sebagai bentuk investasi. Fenomena ini memiliki risiko dan peluang. Untuk itu, penelitian hukum ini akan menganalisis NFT dengan regulasi yang telah ada. Penelitian ini menggunakan metode penelitian doktrinal. Penelitian ini difokuskan untuk membahas potensi NFT secara hukum dan apakah hukum nasional siap untuk perubahan ini. Penelitian ini juga menunjukkan adanya pelanggaran kekayaan intelektual (hak cipta) yang selalu diperdebatkan di NFT. Oleh karena itu, masyarakat harus dididik sebelum mencoba mendalami NFT. NFT cenderung menjanjikan tetapi menurut penelitian ini, NFT memiliki beberapa celah yang dapat mengakibatkan masalah hukum seperti penipuan, pencucian uang, dan penghindaran pajak. Maka, pemerintah perlu mengambil tindakan pencegahan dan pengawasan di pasar NFT untuk memastikan keamanan serta tidak terjadinya pelanggaran saat menggunakan platform NFT.
NFT (Non-Fungible Token) sebagai alternatif aset digital pada masa kini memunculkan permasalahan pelanggaran hak cipta. Penelitian ini bertujuan untuk mengkaji dan menganalisis perlindungan hukum hak cipta terhadap keberadaan NFT di Indonesia terutama pada platform Opensea. Metode penelitian yang digunakan jenis penelitian yuridis normatif, yakni merupakan penelitian hukum yang dilakukan dengan cara meneliti bahan pustaka atau data sekunder. Dari penelitian yang dilakukan menunjukkan bahwa perlindungan hak cipta terhadap NFT di Indonesia belum secara jelas diatur didalam Undang-Undang Nomor 28 Tahun 2014 tentang Hak Cipta. Namun demikian, perlindungan hak cipta atas NFT pada Platform Opensea, sudah diakamodir di dalam syarat dan ketentuan dari platform tersebut. Opensea berhak melakukan takedown atas konten yang melanggar kekayaan intelektual orang lain khususnya hak cipta.
This research is a normative juridical study of non-fungible token (NFT) regarding the position of NFT in relation to positive law in Indonesia, legal certainty for bankrupt assets in the form of NFT and the efforts that can be made by curators in order to optimize bankruptcy assets in the form of NFT. The results of this study indicate that NFT has met the classification of immovable and indivisible movable objects. The provisions of Article 21, Article 98 and 101 Paragraph (1) of the Bankruptcy Law have provided legal certainty to curators and bankrupt creditors that NFT is a bankrupt asset that must be optimized by the curator to pay off the debts of debtors. There are 3 main obstacles by the curator in optimizing bankrupt assets in the form of NFT, in the process of registering NFT as bankrupt assets, the process of determining the best time to sell NFT and the method of selling NFT based on the Bankruptcy Law. Against these obstacles, the Bankruptcy Law and positive law have provided efforts that can be taken by curators in the context of optimizing bankrupt assets.
Smart contract adalah kontrak digital yang dapat diatur dan dieksekusi secara otomatis. Kehadiran smart contract menimbulkan perubahan radikal dalam dunia hukum, khususnya dalam bidang perjanjian dan pembayaran. Meskipun teknologi memungkinkan fungsi Notaris dilakukan secara online dan jarak jauh, tampaknya hal itu tidak mungkin dilakukan secara hukum yang saat ini berlaku di Indonesia. Sehingga, masih dibutuhkan regulasi yang spesifik mengatur ketentuan mengenai Smart Contract agar terbentuknya kepastian hukum yang memberikan rasa aman dan perlindungan hukum bagi masyarakat. Rumusan Masalah yang dipakai ada dua yaitu, pertama, keabsahan hukum atas kehadiran smart contract dikaitkan dengan transaksi elektronik, serta yang kedua, bagaimana ancaman penerapan smart contract terhadap peran dan fungsi notaris di indonesia. Penelitian ini menggunakan metode yuridis normatif dengan mengumpulkan data dari bahan hukum primer, sekunder, dan tersier. Hasil penelitian menunjukkan bahwa kehadiran Smart Contract di Indonesia dapat dikatakan sah dan berlaku apabila memenuhi syarat-syarat yang ditetapkan dalam peraturan perundang-undangan yang berlaku, seperti Undang-Undang Nomor 8 Tahun 1999 tentang Perlindungan Konsumen dan Undang-Undang Nomor 11 Tahun 2008 tentang Informasi dan Transaksi Elektronik. Namun, jika dikaji terhadap peran notaris sebagai pejabat umum, Smart Contract akan mengurangi peran notaris sebagai pejabat umum dalam pendaftaran dan pengesahan perjanjian. Karena, peran notaris tetap diperlukan dalam pemeriksaan keabsahan dan kepatutan kontrak, serta dalam memberikan jaminan keamanan bagi kontrak yang diselenggarakannya. Kesimpulan dari penelitian ini adalah bahwa Kemajuan teknologi yang pesat harus sejalan dengan perubahan sistem hukum, khususnya fungsi notaris sebagai pejabat publik, agar tetap relevan dan memberikan pelayanan yang efektif dan efisien kepada masyarakat
One of the technological innovations in the industrial era 4.0 is the existence of smart contracts. Smart Contract is a further development of the application of blockchain after the existence of cryptocurrency, namely a computer program that is basically an electronic agreement in a blockchain database system with the aim of a protocol in carrying out an agreement or agreement between parties that can execute agreement clauses automatically. This article was examined using normative juridical research methods. Normative juridical research is research based on an analysis of legal norms, the sense of law as it is written in the books and statutes (in the literature and statutory regulations). The results of the study show that the use of smart contracts in e-commerce transactions in Indonesia has been implemented properly and when viewed from the perspective of Civil Law in Indonesia, the use of smart contracts in e-commerce transactions has fulfilled the elements of the agreement in general, although there are still deficiencies such as automatic execution as if made by one party only.
Saat ini perkembangan teknologi memiliki kemajuan yang sangat cepat. Salah satu perkembangaan teknologi tersebut adalah adanya cryptocurrency sebagai mata uang virtual yang dapat dijadikan alat tukar resmi, namun cryptocurrency tersebut belum memiliki kepastian hukum yang jelas dalam mengatur kegiatan transaksi virtual tersebut sehingga dapat menimbulkan permasalahan hukum. Penelitian ini bertujuan untuk meninjau regulasi cryptocurrency khususnya terhadap tidak pidana di Indonesia. Untuk mecapai tujuan tersebut metode penelitian yang digunakan adalah metode penelitian hukum normatif. Hasil penelitian pengadaan aktivitas pembayaran di Indonesia diatur oleh Peraturan Bank Indonesia Nomor 18/40/PBI/2016 tentang Penyelenggaraan Pemrosesan transaksi pembayan, dimana peraturan belum terdapat regulasi terkait penggunaan cryptocurrency sebagai alat pembayaran. Sehingga cryptocurrency belum memiliki perlindungan hukum.
Decentralized Finance (DeFI) has positively impacted the development of crypto asset trading and has been adopted by various countries except for Indonesia. This study aims to identify the urgency of regulating DeFi as the development of crypto asset trading in Indonesia and construct the ideal regulation. This research is normative legal research with a statutory and conceptual approach. The research results stated the urgency of regulating DeFi as the development of crypto asset trading is: a) other countries have used DeFi because it can develop crypto asset trading for the better by creating value stability in crypto assets, having a function for lending and borrowing crypto assets, having transparency in transactions and lower crypto asset trading fees; b) DeFi technology adopted in the development of the Digital Rupiah project by BI and adopted by physical traders of crypto assets in Indonesia; c) as a form of legal protection from risks arising from technical or non-technical negligence or intention to protection from crime. Ideal legal regulation for decentralized finance as the development of Indonesia crypto asset trading is the formation of a regulation by CoFTRA in the form of technical guidelines and implementation mechanisms, in the form of a new written CoFTRA Regulation, in the form of a decree from the Head of CoFTRA whose focus is to regulate DeFi as development Crypto asset trading.
Fokus pada penelitian ini menitikberatkan sejauh mana berbagai persoalan terkait investasi Virtual Cryptocurrency dan investasi saham dapat dijawab berdasarkan sudut pandang yang menitik beratkan pada fungsionalisasi budaya hukum, kemudian apa saja faktor yang mempengaruhi tingginya minat masyarakat berinvestasi pada Cryptocurrency dan saham. Penulisan ini menggunakan metode pendekatan penelitian yaitu pendekatan terhadap peraturan perundang-undangan, dan pendekatan konseptual. Hasil penelitian menjelaskan bahwa peningkatan kegiatan investasi terhadap saham dan Cryptocurrency di Indonesia, terjadi bukan hanya karena adanya peraturan tertulis yang terbentuk, namun adanya gerakan dari masyarakat itu sendiri yakni permintaan dan penawan yang mempengaruhi sistem hukum. Adapun beberapa faktor yang mempengaruhi tingginya minat masyarakat berbondong-bondong berinvestasi pada Cryptocurrency dan saham faktor fundamental, Perbedaan saham dan Cryptocurrency dalam melakukan analisis fundamental pada bursa saham melibatkan berbagai macam data yang diharapkan akan berdampak pada nilai suatu saham. Data yang dimaksudkan antara lain, return of asset, aliran kas, dan gearing ratio yang mana digunakan untuk mengukur modal pinjaman perusahaan untuk membiayai operasional. Sedangkan, Cryptocurrency memiliki fundamental yang dapat dikatakan jauh berbeda dengan saham. Cryptocurrency memiliki fundamental yang dapat dilihat dari Whitepaper atau semacamnya. Whitepaper berisikan mengenai peta pengembangan dari proyek Cryptocurrency. Dari peta pengembangan tersebut, trader atau investor Cryptocurrency dapat melihat prospek sebelum melakukan transaksi, dimana tujuannya untuk mendapatkan profit besar dengan jangka pendek ataupun dengan jangka panjang.
Currenct technological developments support humans to be able to carry out economic activities without regional boundaries problems. One of the impacts is the Non-Fungible Token (NFT) technology that supports security in investement activites of copyrighted works that are converted into digital assets on digital platforms. However, the platform is also used by the irresponsible parties as a medium for copyright infringement, such as in the case of unauthorized sale of Reini Wirahadikusumah’s potrait as Chancellor of ITB on the OpenSea platform. This study aims to understand the legal protection related to the rights of Reini Wirahadikusumah as the person in the potret work and the appropriate legal action taken by Reini Wirahadikusumah for the illegal sale of the potrait work.
Conie Pania Putri, Andri Trisna Eka Putra, Muhammad Aminuddin
The increasing popularity of cryptocurrencies has raised concerns regarding their financial and tax implications in Indonesia.This research aims to explore the urgency of implementing appropriate legal regulations to address the financial and tax aspects of cryptocurrency transactions in the country.By analyzing existing laws, regulations, and scholarly literature, this study aims to provide valuable insights into the current state of cryptocurrency transactions in Indonesia and the potential consequences of inadequate legal frameworks.The research begins by examining the financial aspect of cryptocurrency transactions, focusing on issues such as transaction security, investor protection, and financial stability.It investigates the potential risks associated with unregulated cryptocurrency transactions and the need for legal safeguards to mitigate these risks.Furthermore, the study delves into the tax aspect of cryptocurrency transactions, analyzing the challenges of taxing cryptocurrencies and the implications for government revenue.Through a comprehensive analysis of relevant laws and regulations, this research emphasizes the significance of establishing an appropriate legal framework for cryptocurrency transactions.The findings of this study contribute to the ongoing discussions on the regulation of cryptocurrencies in Indonesia and provide recommendations for policymakers, regulators, and stakeholders in formulating effective legal measures.
The existence of the Metaverse is warming the world as a second life, and one can carry out activities in the virtual world, one of which is buying and selling transactions.Metaverse itself is a digital reality that combines aspects of social media, online gaming, augmented reality (AR), virtual reality (VR), and cryptocurrency to allow users to interact virtually.Metaverse has excellent potential for a person to interact, work, learn and create through NFT (non-fungible tokens) that describe the original object.There has been much attention lately about buying and selling virtual land in the Metaverse.Some investors are willing to spend significant funds to buy virtual land in the form of NFT.Purchased digital plots of land are stored in NFT.This is considered an investment and can be profitable in the future.The use of Virtual Currency has spread widely to all corners of Indonesia.However, at this time, the government has not determined how to formulate written regulations regarding its circulation and supervision, then how to formulate policies and aspects of protection for investors or users in metaverse transactions regarding land and building investment.Virtual currency investments are risky and vulnerable to cybercrime, money laundering, and tax evasion.This study uses a normative research method by reviewing and describing library materials in the form of literature, legislation, and some news related to the issues to be discussed.
English Abstract: Distributed ledger technology "Blockchain" is a record in which all transactions made by cryptocurrencies are permanently documented and cannot be deleted, modified or altered. The distributed ledger technology consists of blocks, each block containing the details of each transfer process that took place during a certain period in terms of the public address of both the sender and the addressee, which is an electronic signature for the two parties, the amount of currency transferred and the time of transmission. The question that arises is to which extent is it possible to comprehend the general rules to give legal authenticity to electronic writing and electronic signature included in the distributed record technology to prove transactions made by encrypted currencies?
Nur Syaedah Kamis, Mardziyah Mohd Isa, Nur Syamilah Md Noor
Day by day the numbers of Bitcoins owners are increasing and as the time lapses, they also will face the death. In Perlis, Bitcoins is recognised as a wealth (mal) and subject to zakat by State Fatwa Committee of Perlis. Hence, this paper aims to discover the inheritability of bitcoin according to Shariah in Perlis. As a result, this study employed a qualitative research approach by interview in order to discover the inheritability of bitcoin as a mal according to Shariah. Purposive sampling was used in the study. The finding of this study indicated that the existing fatwa on bitcoin is silent on the inheritance ruling of bitcoin. The researcher urged that this inheritance ruling must be tabled and gazetted by the state fatwa committee of Perlis in order to ensure the continuity of bitcoin to the next generation. Therefore, this study has contributed in comprehensive Shariah views behind the permissibility of Bitcoin in Perlis and provides some important policy implication for the regulator and state fatwa committee of Perlis to fulfil the lacuna in the fatwa related to bitcoin.
In recent years, technological advances have grown so rapidly, including progress in the economic field. the existence of cryptocurrencies or digital money, provides a new alternative as a transaction tool, investment instrument or as a trading commodity. On the other hand, the legitimacy of using cryptocurrencies is still a matter of debate in various circles. Researchers want to study the use of cryptocurrencies with the sadd dzariah approach. This research is a quantitative research and is a library research. The data analysis technique used is descriptive-analytical with a normative juridical approach to Islamic law. The results of the study indicate that the use of cryptocurrencies in business transactions, as an investment instrument, and illegally traded commodities, is maysir and gharar. So it should be avoided containing mafsadat rather than benefit, and has the potential to bring more harm than good/mafsadah.