This research aims to examine the views of contemporary Islamic law regarding bitcoin digital assets as objects of inheritance. In this research, a normative juridical method is used which involves library legal research by examining library materials or secondary data with data collection techniques using a conceptual approach. The results show that bitcoin meets the criteria to be used as inherited property because the nature of bitcoin assets is in accordance with the nature of property, but contemporary Islamic scholars differ in opinion regarding the law of using bitcoin, the Indonesian Ulema Council itself forbids bitcoin as a currency and commodity without underlying, and legalizes bitcoin as a commodity with underlying, so that the law of inheritance also depends on the opinion or fatwa that is trusted, because fatwa is not binding.
Dengan potensi zakat yang begitu besar untuk kesejahteraan masyarakat, pengelolaan zakat saat ini di Indonesia masih belum optimal. Untuk meningkatkan efektivitas lembaga zakat, tata kelola yang baik merupakan faktor penting. Sebagai organisasi publik, kinerja lembaga zakat khususnya dalam administrasi dan pelayanan merupakan indikator meningkatnya kepercayaan masyarakat. Penelitian ini bertujuan untuk mengidentifikasi peluang penerapan blockchain pada pengelolaan zakat. Penelitian ini menggunakan pendekatan kualitatif deskriptif dengan metode studi pustaka pada topik zakat dan blockchain di Indonesia. Hasil penelitian ini menekankan adanya tantangan dan mengusulkan starategi dalam pengelolaan zakat dengan blockchain. Dalam hal ini, peran amil zakat dan muzakki menjadi kunci dalam pelaksanaan zakat menggunakan teknologi blockchain dalam pengelolaan zakat yang berkualitas, efisien, akuntabel, dan profesional dalam menyalurkan zakat ke asnaf. Penerapan teknologi Blockchain dalam pengelolaan zakat dapat melacak status dana zakat dan membuat proses distribusi dan transaksi dana menjadi transparan. Penelitian ini bermanfaat untuk meningkatkan tatakelola zakat di Indonesia dengan memberikan strategi bagi semua stakeholders zakat seperti pemerintah, kementrian Agama, Baznas, organisasi masyarakat, dan lembaga pengelola zakat.
Nur Syaedah Kamis, Norazlina Abd Wahab, Mohammad Azam Hussain
The positive acceptance of cryptocurrency by the public indicates their interest and enthusiasm for cryptocurrency. Nevertheless, theregulatory overlay related to cryptocurrency is still at its infancy level, posing challenges to its estate administration upon the death ofthe owner of a cryptocurrency, which will lead to its disappearance and loss as it becomes impossible to be inherited. Hence, in light ofthis undesirable possibility, this paper aims to analyze the legal and Shariah issues on the estate administration of cryptocurrency from the perspectives of Malaysian laws and Shariah. This paper examined doctrinal research by examining relevant legal provisions, Shariah rulings, fatwa, cases, and non-legal literature on estate administration. This paper concludes that there is a lacuna in the estate administration of cryptocurrency as its regulatory framework is still new and evolving. Therefore, the legal and Shariah issues highlighted in this paper may provide some important policy implications for regulators and policymakers to fulfil the lacuna in the estate administration of cryptocurrency in Malaysia.
Smart contract terkenal sebagai protokol perangkat lunak yang memungkinkan pelaksanaan otomatis dari kontrak tanpa melibatkan pihak ketiga, dan memungkinkan pemangku kepentingan, seperti bank, lembaga keuangan mikro, atau penyedia layanan keuangan syariah lainnya untuk secara otomatis melaksanakan perjanjian yang telah ditetapkan berdasarkan prinsip-prinsip syariah tanpa intervensi manusia. Namun, munculnya pro kontra dalam penerapan smart contract yaitu kebutuhan akan audit dan verifikasi yang cermat untuk memastikan bahwa smart contract telah dirancang sesuai dengan prinsip-prinsip syariah, tujuan penelitian ini adalah untuk mengidentifikasi tantangan dan peluang dalam penerapan Smart contract agar adanya perlindungan hukum yang jelas sesuai dengan prinsip syariah. Dalam penelitian ini penulis menggunakan jenis penelitian yuridis normatif atau metode penelitian kepustakaan. Hasil penelitian ditemukan bahwa perlunya kesepakatan dan standar yang lebih jelas mengenai kontrak syariah, serta tantangan hukum dan regulasi yang mungkin muncul dalam mengadopsi teknologi ini. Melalui analisis peluang dan tantangan yang terkait dengan penerapan Smart contract syariah dalam blockchain, penelitian ini memberikan pemahaman yang lebih baik tentang potensi teknologi ini dalam mendukung ekosistem keuangan syariah. Dengan memahami tantangan dan risiko yang terkait, pelaku industri, regulator, dan akademisi dapat bekerja sama untuk mengembangkan solusi yang sesuai dengan prinsip-prinsip syariah dan memperkuat kepercayaan masyarakat terhadap sistem keuangan syariah. Regulasi yang jelas akan mengatur persyaratan dan standar yang harus dipenuhi oleh Smart contract Syariah, sehingga transaksi yang dilakukan dalam blockchain dapat dikonfirmasi secara hukum sesuai dengan prinsip-prinsip syariah.
<p><em>Non-Fungible Token</em><em> (NFT) Is One Of The Most Popular Digital Assets Transacted By The Global Community. This Phenomenon Is Increasingly Popular With The News That Ghazali Is Able To Earn Billions Of Rupiah. The NFT Phenomenon Attracts Researchers To Conduct An Analysis Related To The Transaction Law In It And Its Validity According To The Four Madhhab Muamalah Fikh. This Research Uses A Literature Study Approach By Collecting Data And Information Related To NFT And The Views Of Several Scholars Regarding The Pillars Of Buying And Selling Contracts (Bay') Which Include: NFT As Ma'qud 'Alaih, Cryptocurrency As Tsaman Or Mal, Sellers And Buyers, and Contract Shighat. This Study Resulted In Two Findings: A) NFT Is A Mal Maknawi In The Fikih Mu'amalah Review And B) NFT Transactions Are Legally Valid Because They Have Fulfilled All The Requirements And Pillars Of A Buying And Selling Contract (Bay'): NFT As A Mall Meaning, Cryptocurrency As A Transaction Tool In NFT (Tsaman) And Entering Into A Hiwalah Contract, Two Actors (Al-'Aqidan), And Contract Shighat. </em></p>
Arzam Arzam, Muhammad Fauzi, Mursal Mursal, Abdul Muid
This study aims to review and comprehensively explain the legality of Cryptocurrency based on a number of institutional and personal fatawa. To answer the research objectives, it was carried out using descriptive research with a qualitative approach. The research data comes from secondary data in the form of institutional and personal fatawa that have been published online, and are accompanied by supporting writings explaining these fatawa. The collected research data were analyzed by following the steps including material collection, discussion, and descriptive analysis. This research shows that a number of institutional and personal fatawa are divided into three decisions on the legality of Cryptocurrency, namely the first is Halal Cryptocurrency; on the grounds that it can be treated as a form of Maal (property), because it is based on social approval and general use so it is permissible to own;, trade;, transact;, etc. there is a clear decision), on the grounds of excessive gharar (speculation); security risk; can easily be used in illegal activities;. Third, Cryptocurrencies are illegal, for various reasons, they are not currency and are not legal means of payment; decentralized validation; excessive gharar (speculation); can easily be used for maysir (gambling);, and used to fund terrorists;. This research needs to be continued considering the limitations it has, such as seeing arguments against Cryptocurrency due to its properties (characteristics) so it is very good and it takes hard work to see it from various perspectives.
Muhammad Izzul Syahmi Zulkepli, Mohammad Taqiuddin Mohamad, Saaidal Razalli Azzuhri
A blockchain-based smart contract is a computer script, stored in the blockchain network and enforced automatically based on predetermined terms, decentralised verification as well as fully accessible real-time records to all blockchain users. Smart contract innovation, with a high level of transparency and a lower risk of operational errors, offers a novel approach for more effectively implementing Shariah contracts in Islamic financial institutions. However, the immutable smart contract principle, which disallows the amendment or deletion of the code deployed in the blockchain, appears incompatible with the iḥsān criterion implemented in Islamic financial institutions’ product offerings that allow operations and terms adjustment under certain conditions, including payment rescheduling and contract restructuring facilities in financing products. This study aims to look into the concept of blockchain-based smart contracts, as well as issue related to immutable smart contract and viable solutions that align with Shariah and Islamic banking operations. The study utilised the library research to achieve the objective by referring to related literature. The qualitative data were then descriptively analysed using the conceptual content analysis method. The study’s results found that, in order to comply with the characteristics of iḥsān to implement Shariah contracts using blockchain-based smart contract technology, the programmer should first write flexible code rather than fixed code, and the upgradable proxy contract should be well applied in the creation of the smart contract code.
Auwal Adam Sa’ad, Raja Rehan, Abubakar Abukakar Usman, Adnan Opeyemi Salaudeen
<ns4:p>The metaverse is a virtual world that exists alongside the actual world. While the actual world refers to the real, physical world, the metaverse is a digital world that is accessed through technology. Evidently, several international brands have integrated their businesses with the virtual metaverse providing business opportunities. However, there are currently several gaps in the sector of Shariah finance that need to be addressed in order to take full advantage of the potential of the metaverse. For instance, rare studies enlighten the concept of Ijarah, a substitute for conventional leasing in the metaverse virtual world. Undoubtedly, the metaverse has the potential to revolutionize the Shariah finance industry by providing new opportunities for financial inclusion and innovation. Therefore, for the readiness of Islamic finance institutions, this study is an attempt to explore the possibility of executing Shariah principles that could be utilized in the metaverse. More specifically, this study is an endeavor to explore and discuss how Shariah-based leasing i.e., Ijarah integrates with the recent metaverse technologies. Additionally, this study also discusses the metaverse evolution and its integration into international business brands, the metaverse virtual assets ownership, the metaverse virtual leasing, non-fungible tokens (NFTs), and virtual real estate in the metaverse. Indeed, this study is a novel addition to the Shariah finance literature, which helps policymakers to generate new strategies that guide the execution of Ijarah contracts in the virtual universe of the metaverse.</ns4:p>
<em>cryptocurrencies still often clash with applicable law, not least with sharia economic law because Indonesia has a majority Muslim population, so sharia review in the use of cryptocurrencies is essential, so in this case, the Indonesian Ulema Council issued an unlawful fatwa regarding the use of cryptocurrencies both as currency. or as a digital asset. This study aims to analyze and explain cryptocurrencies based on the provisions of Islamic economic law in their use in money or as digital assets, using normative juridical research methods. The results of this study found that the use of cryptocurrencies has two functions, namely as currency and digital investments, but the use of cryptocurrencies clashes with the concept of Islamic economics because cryptocurrency has elements of dharar, ghrara, and qimar, also the idea of money in cryptocurrency clashes with the concept of money in Islam.</em>
AbstractStudi ini berfokus pada pentingnya memahami implikasi filosofis desentralisasi Bitcoin dalam konteks kebebasan individu. Desentralisasi Bitcoin dipandang sebagai upaya untuk mendapatkan kebebasan finansial dan mengurangi ketergantungan pada institusi pusat. Namun, penelitian ini juga menunjukkan bagaimana kekuatan modal yang merupakan bagian dari sistem kapitalis global dapat memanipulasi dan mengendalikan Bitcoin. Sistem kapitalis global, sering disebut "kerajaan", adalah sebuah realitas di mana kekuasaan didistribusikan di banyak tempat. Desentralisasi Bitcoin menciptakan paradoks, karena kebebasan yang dijanjikan dikompromikan oleh ketidakseimbangan kekuatan yang diciptakan oleh kekaisaran. Oleh karena itu, penelitian ini menggarisbawahi pentingnya kritik filosofis terhadap desentralisasi Bitcoin.
A growing economy creates cryptocurrency virtual money residing in cyberspace. Cryptocurrency Is an online payment tool that uses an open source peer-to-peer payment network. There are many problems faced by users, where Cryptocurrencies are said to include money or a commodity. This phenomenon really makes users feel uncomfortable, feel at a loss, therefore the government must immediately provide an evaluation of the use of Cryptocurrency as a means of obtaining transactions. more attention, especially from the government so that the community gets their rights and obligations in muamalah. This paper aims to discuss how to use Cryptocurrency transactions from the Perspective of the DSN-MUI Fatwa and Law No. 7 of 2011. This research is classified as normative research, using a statutory approach and a conceptual approach. The results of the discussion show that Cryptocurrency is linked in the DSN MUI fatwa No.28/DSN-MUI/III/2002 regarding al-sharf that in the provisions of the fatwa the conditions for exchanging Cryptocurrency digital money are prohibited because of the element of speculation. In Article 2 paragraph (1) of Law Number 7 of 2011 concerning Cryptocurrency, it does not meet the requirements as a type of currency in Indonesia. Judging from the six criteria of money, Cryptocurrency only meets the criteria of portability and visibility.
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.
Digital money obtained by converting physical money into digital is often used in electronic transactions. However, modern technology has also produced virtual currencies, known as cryptocurrencies. Bitcoin and other cryptocurrencies are unregulated and have not received official approval by Indonesian law. Research to know and analyze the concept of crypto according to Islam. With the method of literature review combined with bibliometric analysis. Data was collected using Publish or Perish (PoP) software from the Google Scholar database. Table 1 shows the number of author citations for works discussing cryptocurrencies and Islamic studies. Based on search results obtained by PoP software. The number of citations from authors who have more than 10 citations is calculated from the total number of authors. Use keywords as a foundation. Nine clusters were found as a result of keyword mapping: red, blue, yellow, green, purple, orange, brown, and pink.
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.
Tujuan dari penelitian ini adalah untuk mengkaji dan menganalisis bagaimana legalitas penggunaan cryptocurrency sebagai alat investasi jangka panjang di Indonesia serta mengkaji dan menganalisis bagaimana perlindungan hukum bagi masyarakat atau para investor cryptocurrency di Indonesia, adapun jenis penelitian yang digunakan dalam penelitian skripsi ini yaitu menggunakan jenis penelitian normatif dengan metode pendekatan peraturan perundang-undangan (statute approach) dan metode pendekatan konseptual (conseptual approach). Berdasarkan hasil penelitian ini didapatkan bahwa pesatnya perkembangan cryptocurrency menyebabkan jumlah para pengguna atau investor cryptocurrency juga meningkat pesat di Indonesia sehingga pemerintah Indonesia harus membuat regulasi atau peraturan untuk memberikan kepastian hukum bagi para penggunanya, legalitas penggunaaan cryptocurrency di Indonesia sendiri telah diatur dan diawasi langsung oleh Badan Pengawas Perdagangan Berjangka Komoditi (Bappebti) No 5 Tahun 2019 Tentang Ketentuan Tekhnis Penyelenggaraan Pasar Fisik Asset Krypto (Crypto Asset).
This study aims to determine the selling mechanism and to understand the reflection of sharia economic law on the mechanism for selling Non-Fungible Token (NFT)-based digital works/creations on the Opensea Platform. This research includes library research (library research) which uses secondary data consisting of three legal materials, namely primary legal materials, secondary legal materials and tertiary legal materials. This research is a descriptive analysis. The data collected was analyzed qualitatively. The results of this study indicate that the mechanism for selling NFTs on opensea is having a balance of cryptocurrency or Ethereum money through a MetaMask wallet, having an account, owning an NFT work, determining the price, how long will the NFT last last uploading the NFT on opensea. Buying and selling NFT is a little different because it uses blockchain technology and the lens of Islamic economic law for the mechanism for selling NFT at Opensea. Looking at the pillars of sale and purchase, the actual NFT transaction process is not fulfilled, because the value or means of exchange (saman) contains gharar and dharar. . The results of the Ijtima Ulama Fatwa MUI decision stated that the use of cryptocurrency as legal currency is unlawful, because it contains gharar, dharar and contradicts Law Number 7 of 2011 and Bank Indonesia Regulation Number 17 of 2015 so it cannot be used as a transaction tool because in practice there are discrepancy with the pillars of the sale and purchase contract. However, it must be acknowledged that the world continues to develop and technology is increasingly sophisticated, it does not rule out the possibility that one day NFT will be legalized. To show that Islam is salihun likulli epoch wa likulli eat (suitable for all times and places), academic ijtihad must be carried out to answer contemporary muamlah problems in the era of globalization.
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.
The popularity of virtual currencies has increased markedly in recent years. Seminars and conferences have explored the properties and sustainability of cryptocurrencies. Some argue that an alternative to the current fiat currency system would be beneficial, as it would not mandate the use of a bank account, tax payments, or audits as do the said cryptocurrencies. Alternative methods of payment, aside from those commonly accepted like cash, checks, and DD, have been claimed to enable tax and auditing avoidance. However, this view has been contested, given the potential negative impact on the economy and the government budget. The present study addresses the challenges and limitations involved in considering bitcoins to be halal. It has been determined that cryptocurrencies are not considered Halal in Islam because they lack intrinsic value and are subject to significant regulatory oversight. Popularitas mata uang virtual telah meningkat pesat dalam beberapa tahun terakhir. Seminar dan konferensi telah mengeksplorasi properti dan keberlanjutan mata uang kripto. Beberapa orang berpendapat bahwa alternatif dari sistem mata uang fiat saat ini akan bermanfaat, karena tidak mengharuskan penggunaan rekening bank, pembayaran pajak, atau audit seperti halnya mata uang kripto. Metode pembayaran alternatif, selain dari yang umum diterima seperti uang tunai, cek, dan DD, telah diklaim memungkinkan penghindaran pajak dan audit. Namun, pandangan ini telah diperdebatkan, mengingat potensi dampak negatifnya terhadap ekonomi dan anggaran pemerintah. Penelitian ini membahas tantangan dan keterbatasan yang terlibat dalam mempertimbangkan bitcoin sebagai sesuatu yang halal. Telah ditetapkan bahwa mata uang kripto tidak dianggap halal dalam Islam karena tidak memiliki nilai intrinsik dan tunduk pada pengawasan regulasi yang signifikan.
Currently around the world and especially in Malaysia, digital currencies are still in their nascent stage, especially among university students. Several groups like government establishments, the business community, and young generations among others have started to take considerable interest in the use of digital currencies for different forms of transactions. However, the potential of cryptocurrencies has not been entirely exploited to its fullest. This study examined the impact of digital currency adoption on the Malaysian economy through a quantitative design using an online survey. The population for this study includes young, educated people in Malaysia, specifically undergraduates and young graduates. This research evaluates Malaysian university students' and young graduates’ awareness and usage of cryptocurrencies as well as the challenges envisaged by various strata of users regarding the impact of digital currency adoption on the economy and the future of banking and money. The findings show that statistically significant positive relationships exist between the dependent variable (Intention to use Cryptocurrencies) and all independent variables of the study, (namely, awareness, perceived ease of use, perceived usefulness, perceived trustworthiness as well as perceived risk), and the dependent variable, intention to use (IU) (with correlation coefficient r-values of 0.106 and 0.164 with the p-value is 0.000 and significance level of 0.01). The study therefore concludes that the potential of cryptocurrencies invading the global market, despite the advantages of cryptocurrencies, is yet to be widely accepted among Malaysians.
Many policymakers and scholars have discussed concerns regarding terrorist group use of cryptocurrency in recent years. While some argue that the threat is still limited, others argue that the current usage of cryptocurrency does not match the entirety of features that terrorist groups require and desire. In the end, it is still critical to recognize that the cryptocurrency used for terrorist financing frequently depends on several influencing factors. This study aims to (i) investigate the utilization of cryptocurrency by Moslem-affiliated terrorists in Southeast Asia; (ii) map the case typology of cryptocurrency use in Southeast Asian terrorist funding; (iii) describe the regulatory challenges raised in Southeast Asia. This research is a type of doctrinal legal one using the statute, case, and conceptual approaches. The results of this study acknowledge the limited but increasing risk of terrorist financing by cryptocurrency over the 2015-2022 timeframe in Southeast Asia. Furthermore, the existing typology of cases uses smurfing and structuring techniques with high and medium levels of risk. This research ends by recommending actions that Southeast Asian country stakeholders can take to reduce the potential of cryptocurrency usage in terrorist funding by harmonizing their counter-terrorist financing regulatory approaches and implementing investigative best practices.
Abstract: Muslim scholars and experts have given their views on issues related to the permissive and prohibitive use of cryptocurrencies. Scholars and experts’ decisions were of three categories: permitted the use of cryptocurrency; prohibited its use based on Islamic principles; and tawaqquf, yet to make their final decision on the acceptance or otherwise. The main objective of this study was to systematically examine and organize the various studies and research that explored known common ideas among Muslim scholars and experts on issues related to the use of cryptocurrency in Muslim communities. This study adopted the PRISMA guideline of reporting a systematic literature review, where it identified and explored available literature in Scopus, Emerald Insight, and Google Scholar, related to Muslim scholars' and experts’ decisions on the use of cryptocurrency. With the increasing use of cryptocurrency globally, the topic has also rapidly grown among Muslim scholars and experts, which has created a need for a real conclusion and justification for the people to hold on to. The systematic literature review revealed that the Muslim scholars and experts’ views on cryptocurrencies can be sub-categorized further: permitted its use (requirements compliant, regulations, justified reasons, wide acceptance, and gold-backed), prohibited its use (speculative nature, restrictions by authorities, fewer benefits, and religious beliefs), and tawaqquf (potentials for improvement, PMBC, Islamic cryptocurrencies, and backed Dinar and Dirham crypto). The conceptual contribution of this study was that views expressed by Muslim scholars and experts on cryptocurrencies be categorized for public consumption and guide in understanding issues. Abstrak: Sarjana dan pakar Muslim telah memberikan pandangan mereka tentang isu berkaitan permisif dan larangan penggunaan mata wang kripto. Keputusan ulama dan pakar terdiri daripada tiga kategori: membenarkan penggunaan mata wang kripto; melarang penggunaannya berdasarkan prinsip Islam; dan tawaqquf, belum membuat keputusan muktamad mengenai penerimaan atau sebaliknya. Objektif utama kajian ini adalah untuk mengkaji dan menyusun secara sistematik pelbagai kajian dan penyelidikan yang meneroka idea-idea umum yang diketahui di kalangan sarjana dan pakar Islam mengenai isu-isu yang berkaitan dengan penggunaan mata wang kripto dalam masyarakat Islam. Kajian ini menerima pakai garis panduan PRISMA untuk melaporkan tinjauan literatur yang sistematik, di mana ia mengenal pasti dan meneroka literatur yang terdapat dalam Scopus, Emerald Insight dan Google Scholar, yang berkaitan dengan keputusan pakar dan sarjana Muslim tentang penggunaan mata wang kripto. Dengan penggunaan mata wang kripto yang semakin meningkat secara global, topik ini juga telah berkembang pesat dalam kalangan sarjana dan pakar Muslim, yang telah mewujudkan keperluan untuk kesimpulan dan justifikasi sebenar untuk dipegang oleh orang ramai. Kajian literatur sistematik mendedahkan bahawa pandangan ulama dan pakar Muslim tentang mata wang kripto boleh dikategorikan kepada: dibenarkan penggunaannya (mematuhi keperluan, peraturan, alasan yang wajar, penerimaan meluas, dan disokong emas), melarang penggunaannya (sifat spekulatif, sekatan oleh pihak berkuasa, faedah yang lebih sedikit, dan kepercayaan agama), dan tawaqquf (potensi penambahbaikan, PMBC, mata wang kripto Islam dan kripto Dinar dan Dirham yang disokong). Sumbangan konsep kajian ini ialah pandangan yang diutarakan oleh para sarjana dan pakar Islam mengenai mata wang kripto yang dikategorikan untuk kegunaan awam dan panduan dalam memahami isu ini.
Bitcoin merupakan komoditas digital yang berbasis pada kriptografi, atau dapat disebut sebagai mata uang virtual atau mata uang digital, yang itu dipakai oleh para penggunanya untuk alat dalam bertransaksi dan berinvestasi. Di Indonesia sendiri penggunaan bitcoin tidak hanya persoalan dalam perkembangan pengetahuan dan teknologi, akan tetapi sudah memasuki area pembahasan fikih. Fatwa Majelis Ulama Indonesia (MUI) dalam Ijtima Komisi Fatwa yang menetapkan bahwasanya penggunaan bitcoin sebagai alat tukar adalah haram disebabkan terdapat unsur gharar dan dharar, tidak diakui oleh Pemerintah sebagai alat tukar dan rawan dijadikan tindak kejahatan terutama cyber crime. Tujuan dari penelitian ini adalah menganalisa apa dasar pertimbangan hukum MUI tentang menetapkan hukum bitcoin dan metode penetapan hukum apa yang digunakan. Penelitian ini merupakan jenis penelitian hukum normatif atau penelitian pustaka yaitu dengan menjadikan referensi pustaka dan dokumen yang relevan dalam penelitian ini. Adapun sumber data berupa sumber data primer dan sekunder. Teknik dalam pengumpulan data penulis memakai studi kepustakaan dan dianalisis menggunakan deskritif analisis. Berdasarkan analisis yang dilakukan dapat disimpulkan bahwa MUI secara tegas mengharamkan bitcoin dikarenakan terkandung gharar, dharar dan qimar didalamnya. Dan dalam metode penetapan hukumnya, MUI menggunakan al-Qur’an, Sunnah dan Pendapat Ulama.Kata Kunci: Bitcoin, MUI, Istinbath, Fatwa