THE NATURE OF BITCOIN AND THE PROVISION OF IT IN TERMS OF ISLAMIC LAW

Abstract

One of the financial phenomena in the current years is the emergence of virtual currencies (also called digital currencies), this phenomenon has invaded websites and occupied amateurs and specialists alike, and its circulation has become common - to some extent - and it has its followers, and it has a private electronic exchange, and one of its most important characteristics is that there is no country or A central bank is responsible for issuing them, but they occupied the world, and there are several types of these currencies, the oldest and most important of which is the " Bitcoin”. The main objective of the study is to clarify the legitimate position on virtual (electronic) currencies in general, and Bitcoin in particular. The researchers followed the inductive-analytical approach in presenting and discussing the theoretical aspect of these currencies, after which the concept of currency was discussed from the legal point of view, according to the dealing in currencies (coins and notes), and then the jurisprudential opinions related to digital currencies in particular were reviewed, and the researchers noted the semi-conflicting positions in the theory The jurist for it, so we divided the jurists between supporters and opponents, {who opposed dealing with it more than those who supported}. Each group has its own argument for that, so the supporters rely on the fact that the principle of dealing is (permissibility), and those who oppose it rely on the fact that it contains a great unknown that may reach the point of harming those dealing with it. The researchers concluded that it is necessary to conduct joint financial jurisprudence studies, in which those with religious experience participate with those with economic and financial expertise, in order to decide on a unified opinion in their direction. Until that happens, countries must stabilize their position on digital currencies in accordance with their economic and financial interests, and as approved by their parliaments.