Is cryptocurrency halal?

Halal is an Arabic word meaning lawful or permitted under Islamic law. It usually applies to food, but can also apply to cryptocurrency. Cryptocurrency’s “halal”ness depends on the intention of the user. The Muslim religion prohibits ‘usury’, i.e. lending money at unfair rates. As such, according to a study by a renowned Muslim scholar, cryptocurrency is halal as long as it is not used in this way. Cryptocurrency, in and of itself, is halal. It is also halal if used as a digital form of payment. FYI: The opposite of halal is haram.