Staking crypto currency
Question
I write to you seeking assistance with the following:
Is it permissible to stake crypto currency on the Cosmos platform?
Answer
Our Darul Ifta has reservations in regards to the Shariah compliancy of Bitcoin / crypto currency. We therefore advise abstention.
Assuming bitcoin / crypto was Shariah complaint, then too staking crypto would not have been permissible. The so called ‘Rewards’ earned by staking is in actual fact interest which is Haraam.
We therefore advise abstention from all forms of Crypto / Bitcoin and other related matters.
- Answered by
- Mufti Mohammed Desai
Fatawa SA is an independent, read-only index of fatawa already published by Darul Ifta Ibn Masood. It is not a fatwa service. For your own situation, ask the issuing Darul Ifta directly.