Question Summary:
Our company has a crypto currency product called Moral Coin

Question Detail:

Assalaamu alaikum ww, 

Answer :

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

Dear Brother,

Moral coin and other forms of cryptocurrencies could be regarded as accepted modes of currencies. Apart from the fiqhi classification of electronic currencies, ‘urf (accepted norm) is also an important consideration in issuing a ruling. Electronic currencies are in the infant stages. Hence, the issue of ‘urf is also being observed for further consideration.

You may refer to #38905 for more information about the Darul Iftaa’s stance on electronic currencies.

And Allah Ta’āla Knows Best

Tareque Ahmed

Student Darul Iftaa
New York, USA

Checked and Approved by,
Mufti Ebrahim Desai.