The Dynamics of Fatwas by Islamic Scholars and Religious Institutions Regarding Crypto Assets in Indonesia

Abstract

This study aims to analyze the dynamics of fatwas issued by Islamic scholars and religious institutions regarding cryptocurrency in Indonesia, as well as their implications for society and the economy. In recent years, the development of financial technology, particularly cryptocurrency, has attracted the attention of various stakeholders, including scholars and religious institutions. Using a qualitative approach, this research collects data through in-depth interviews with scholars, economic observers, and members of the community who engage with cryptocurrency. The findings indicate that there are differing views among scholars regarding the legal status of cryptocurrency, influenced by their understanding of Islamic principles and current economic conditions. The fatwas issued by the Indonesian Ulema Council (MUI) and other religious institutions play a crucial role in shaping public attitudes towards cryptocurrency investment. This research is expected to contribute to the understanding of the interaction between Islamic law, financial technology, and the economy in Indonesia.