The reality and Islamic rulings of virtual currencies: A comparative jurisprudential study by Yasser Abdulrahman Al AbdulSalam

With the technological advancement emanating from modern civilization, the dealing with what is called virtual currencies has spread among a number of traders in commercial and financial markets worldwide. It is an electronic digital currency that has no physical existence, used to facilitate shopping and purchasing via the internet. It is produced and managed by specialized websites, not by central banks and governments. This study comes to examine this new product with its positives and negatives in a scientific and neutral manner, striving to shed light on these currencies in terms of definition, truth, origin, and all related descriptions. Then, it presents a jurisprudential study of the most important issues and Islamic rulings related to these currencies, and the legal rulings that result from dealing with them.