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Wardah Yuspin
Universitas Muhammadiyah Surakarta
Religion Agriculture, Biological Sciences & Forestry Arts Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Health Professions Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Medicine & Pharmacology Nursing Public Health Social Sciences Other

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Journal : Law and Justice

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The Validity of Bitcoins According to the Islamic Law Wardah Yuspin; Sakia Agia Salsabella
Law and Justice Vol 6, No 2 (2021)
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/laj.v6i2.17178

Abstract

The presence of bitcoin invites many uncertainties, such as concerning its legality and the statement that bitcoin is not an official currency in Indonesia. Objective: This research aims to analyze the bitcoins in the perspective of the Islamic Law. Method: This research uses the literature review method. The literary materials obtained are in the form of scientific papers, online media, books, etc. that concerns the analyzed object. Findings: The circulation of bitcoin in Indonesia as a medium of exchange cannot be regarded as a currency, as it does not fulfill the terms and conditions for something to be called money. The bitcoin’s function does not commensurate with the function of money in the concept of the Islamic economy, as it tends to be a traded commodity rather than a facility of transactional exchange. In the perspective of Islamic law, the speculative use of bitcoins may bring one to the risk of violating the law on gharar (uncertainty, hazard); dharar (a transaction that may bring loss to a party); and qimar (game of chance). No authority guarantees bitcoins, and this causes harm. In conclusion, bitcoins produce more harm than good. Thus, its usage is prohibited by Islamic law. Function: This research provides an explanation of the legality of bitcoins, that may aid the Indonesian society to decide whether or not they can use bitcoins according to the law and th sharia. Novelty: There has not been any researches that study the same topic as that discussed in this article.
Co-Authors Abdullah Tri Wahyudi Absori Absori Adi Nugroho Ahmad Ghufron Ahzar, Rizki Maulana Aidul Fitiada Azhari Aidul Fitriciada Azhari Amanda Putri Ariyani Amandha Bayu Wiedyasari Ameilia Annisa Salsabila Andria Luhur Prakoso Andriadin, Andriadin Andriati, Fatmi Anindhita Nurfaatin Sukirman Anisa, Nurul Arief Budiono Ata Fauzie Aya Mohammed Youssef Abd Allah Azhar Alam Bahari, Roni Baskoro Tri Pamungkas Basuki, Muhammad Nur Aji Berlian Ramadhany Ayuningtyas Binar Sapto Nugroho Chandra, Rizky Aditya Danang Kurniawan Danang Sugihardana Diana Setiawati Diyah Murti Hastuti ellectrananda anugerah ash-shidiqqi Eny Purwandari Esmara Sugeng Etyn Ariyani Susilowati Fadhilah, Astutik Fafta Aini Putriana Fahmi Fairuzzaman Farid, Achmad Miftah Fauzie, Ata Femy Wahyu Fitriani Gandung Triyanto Genta Arya Mohammad Ghufron, Ahmad Gulyamov, Said Gulyamov, Said Saidakhrarovich Harun Hatinuraya, Yurisvia Previlega Indah Maulani Iramadya Dyah Marjanah Irawansah, Didik Isman, Isman Jati, Ridho Bawana Jompon Pitaksantayothin Jompon Pitaksantayothin Kelik Wardiono Kurniawan, Adityo Wiwit Kuswardhani Kuswardhani Lukman Hakim M Junaidi, M Marisa Kurnianingsih Marjanah, Iramadya Dyah Moh. Indra Bangsawan Mohammad, Genta Arya Muchamad Iksan Mudofi, Luthfi Nurul Hidayah Muhammad Edi Hermawan Muhammad Nur Aji Basuki Muhammad Nur Aji Basuki Mutimatun Ni’ami Nasrullah Natangsa Surbakti Noviasari, Ryska Nur Hasanah Nur ilmi putri febriyanti Nurlina Afifah Litti Nurrachman, Alfan Dzikria Patra, Yusril Aulia Peggy Dian Septi Nur Anggraini Pramesti, Nadila Putri Puspitasari, Aprilia Dyah Rahardjo, Trisno Rajput, Trisha Ridwan Rika Yunita Hardiyati Rizka Rizka Rizka Rizka Rizka Rizka Rizka, Rizka Said Saidakhrarovich Gulyamov Sakia Agia Salsabella Salma Azzahra, Fatimah Salsabila Athiyyatulmajid Septarina Budiwati Septarina Budiwati Setiyawan, Wahyudi SH, Harun Shofiana Eka Aulia Siti Soekiswati Syaifuddin Zuhdi Syaifuddin Zuhdi Syaifuddin Zuhdi Syaifuddin Zuhdi SYAMSUL HIDAYAT Tampawestri, Miranti Kusretno Ulfa, Nadiya Wiliani, Amalia Yudanto Yudanto Yulian Dwi N Yurisvia Previlega Hatinuraya Zuhdi, Syaifuddin Zuvarcan, Diaz Alifarizki