The Nature of Digital Currency and Its Financial Value from the Perspective of Comparative Jurisprudence
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Article Type:
Research/Original Article (دارای رتبه معتبر)
Abstract:
Digital currency is a new term that requires careful study in all aspects especially from the perspective of Islamic jurisprudence. Digital currency is a virtual currency that can be used to transfer large amounts of money internationally and in a shorter period of time than banking transactions. The place of transactions with these currencies is the Internet and it is done without the need for formalities and approval of governments, because basically the purpose of creating these currencies is making transactions without government supervision and intervention. In this article, we seek to answer these questions: “What is the nature of digital currency?” and “What effects does it have on cyberspace transactions from a jurisprudential point of view?” We came to the conclusion that some Shia and Sunni jurists have commented as in favor and others as opposed. Proponents have cited to principles such as the Principle of Authenticity (Sihha) and the Principle of Permissibility (Ibaha). Digital currencies have a financial value and are considered money. The approval or disapproval of governments does not affect the monetary identity of these currencies. Digital currencies have undeniable advantages that the evolution of their structure and the way of using them, can lead to the legal legitimacy of using them. Otherwise, the Rule of Prohibition of Detriment (La Dharar) and the Rule of Denying the Domination of Unbelievers over Believers (Nafy Sabil) surpasses the other proposed jurisprudential rules about the digital currencies and stand against their legitimacy and finally it turns their legitimacy into illegitimacy.
Language:
Persian
Published:
Pages:
115 to 134
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