Investing Crypto Money Halal Or Haram? This Is What Yenny Wahid Said

Yenny Wahid (doc. Antara)

JAKARTA - Investment in crypto assets is currently being loved by many people in the world. The price that continues to soar makes the interest of the general public continue to increase.

On the other hand, the pros and cons of halal or haram crypto money are still being debated, especially among Indonesian Muslims. Some consider crypto assets to be halal, while others consider crypto money to be illegal for transactions and investments.

"There are parties who consider crypto assets to be haram, because they contain gharar or uncertainty in transactions. Then, this digital money also has high volatility because the price can go up and down drastically," said Yenny Wahid through the Islamic Law Firm, Saturday, June 19.

Those who consider crypto money to be illegal, continued Yenny, also have an argument that the digital coin does not have an underlying asset or financial asset that forms the basis for price formation.

"Because of its nature which cannot be known who the user is, it is often misused for illegal transactions such as buying weapons or drugs or often called the dark internet," said Yenny.

On the other hand, continued the daughter of the 4th President of the Republic of Indonesia Abdurrahman Wahid (Gus Dur), the other party thought that gharar would disappear because crypto money transactions did not recognize cutting fees.

"Transactions at banks are only cut. But cryptocurrencies are not cut. So according to some scholars, this actually makes the gharar disappear," said Yenny.

Compared to fiat money (paper money) which is widely used in conventional bank transactions, Yenny continued, crypto money is actually free from usury because crypto money is basically a blockchain which is spread through a peer-to-peer network.

"What is certain is that cryptocurrency transactions without intermediaries," he added

Therefore, he explained that crypto assets cannot be singled out. Through the discussion held by his party, it is hoped that conclusions can be drawn regarding halal or haram crypto money.

"For us at the ILF, it is a must for us to be able to guide the people so that they can then carry out transactions legally, they live according to the syar'i but also can think about the nuances of the reality of life," added Yenny Wahid.