Analysis of digital currencies from the perspective of jurisprudence and law

Digital currencies are one of the topics that needs an accurate evaluation given several complicacies and ambiguities about them. The preset paper is an attempt to elaborate on digital currency to clarify ambiguities about its legal identity. In addition, the status of digital currency in Islamic jurisprudence and Iranian laws was examined. As the results showed, digital currencies are a type of money in virtual space emerged on the Internet ground so that they have a monetary nature. From jurisprudence viewpoint, they are considered as property. At the first glance, digital currencies are highly complicated and ambiguous; while in practice, they have a simple essence. The true nature of digital currencies is lost in the growing debates about their advantages and disadvantages. Given the disadvantages and ambiguities about digital currencies, they may not be confirmed by Islamic religious laws until these ambiguities are resolved. To achieve the true concept of digital currencies and give a legal and jurisprudential account of them, grounded theory and case study approaches were used in this work. The study also gives more efficient approaches to using digital currencies that can solve many of the disadvantages of digital currencies. Keywords: Digital currencies Bitcoin, money, object, property, comparative jurisprudence