I just came across the news that bitcoin is Shariah compliant and it could be very helpful in clarifying Muslim brothers about whether to consider as a haram or halaal. Things look positive and I am expecting more investors from countries like UAE, Qatar, etc. would believe in bitcoin technology and the use of it. Besides, these countries have very high sovereign funds for investment. (
https://news.bitcoin.com/research-paper-declares-bitcoin-compliant-with-shariah-law/)
Any opinion is highly appreciated.
Bitcoin is not against the Shariah Law and there are muslim scholars who already agreed to this kind of statement. Anyway, let us clarify first the word halal, halal refers to the preparation of meat by the muslim in according to their shariah law thus we cannot apply this to bitcoin since bitcoin is not a food but a cryptocurrency.
But anyway bitcoin according to Muslim Scholars are in compliant and not against the Shariah Law and its just a matter of time before Arab and Muslim Countries will jump and join the bitcoin market.