CRYPTOCURRENCY SEBAGAI ALAT TRANSAKSI MENURUT TINJAUAN HUKUM ISLAM

Abstract

Cryptocurrency is a blockchain-based technology widely used as a digital currency. Basically, Cryptocurrency has almost the same function as other currencies, but this currency does not have a physical form like currency in general. This study employs a descriptive method and is classified as qualitative research. The findings indicate that Cryptocurrency is a novel phenomenon, particularly with regard to transactions. The 4.0 revolution era's rapid technological advancements force people to adjust to the many conveniences that Cryptocurrency offers, but if The government has not formally granted approval due to the illegal nature of cryptocurrencies and the lack of oversight from financial services regulatory organizations, particularly in Indonesia. In the meanwhile, as per Islamic economic law, The idea of Cryptocurrency involves both gharar and dharar because it lacks intrinsic value, its creator or inventor is unknown, there is no authority to guarantee the legitimacy of transactions, and it is inextricably linked to price speculation which is highly volatile and primarily intended to be a tool for profit and loss. Then, Maysir is present in Cryptocurrency.