From my blog post:
A recent welcome development has emerged through a Facebook post by Shaykh Dr. Hatem al-Haj, who recently listened to a podcast episode featuring Professor Saifaden Ammous speaking in Arabic. The Shaykh appears to be impressed by the pro-bitcoin, anti-central bank arguments presented by the Palestinian professor.
See:
Shaykh Hatem al-Haj Full Facebook Post:
Bitcoin and Islam
Alhamdulillah.
“I felt compelled to share these reflections about Bitcoin, which I have been hesitant to discuss for some time. Also, during discussions within the Resident Fatwa Committee of AMJA about cryptocurrency, I advocated for caution, which was also the preference of the other members. Here is AMJA’s official stance:
Regarding Cryptocurrency:
• Dealing with cryptocurrency is considered closer to being permissible than prohibited when adhering to Shariah parameters.
• Acknowledging cryptocurrency’s permissibility does not entail encouraging investment in these currencies.
For further details, please refer to: AMJA’s 18th Annual Imams Conference 2022:
Shariah Rulings for Contemporary Issues Related to Technological Advancements
However, I recently came across a podcast (in Arabic) discussing Bitcoin, which I will link in the comments. The Muslim economist (renowned for his specialized expertise in Bitcoin and author of ‘The Bitcoin Standard’) speaking on the podcast suggests that Bitcoin has the potential to curb governments’ unchecked currency printing, thus potentially:
– Preventing them from financing endless wars a dire need in our current state.
– Protecting the hard-earned money of the poor, which often loses value rapidly in stable countries, let alone others.
– Combating the proliferation of usury within the economic system.
– Offering individuals and even countries financial freedom from a system skewed to benefit a select few and founded on flawed economic principles. This is not advocating for communism, but for a genuinely free and fair market.
The podcast highlighted many more benefits, which I find compelling. Am I suggesting you invest in Bitcoin? No, as I cannot assume responsibility for such decisions. However, these reasons warrant consideration, and I wanted to share them along with the cautious approach taken by AMJA, a fiqh body tasked only with assessing human actions on a scale of five legal values.
I am currently observing a relative fast from social media, so please accept my apologies if I cannot review comments or respond. May Allah accept your fasting and prayers, and may He grant relief and victory to our oppressed brothers in Gaza and worldwide, bringing justice and peace to humanity.”
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Moro Blanco 
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