It is a field that has progressed well past it’s infancy stage
However, it is still a rapidly growing industry that is undergoing constant innovation
Adoption/acceptance rates within the public and governments is growing, but it is still a small percentage of the overall financial market
Different cryptocurrencies hold different characteristics when it comes to scarcity, underlying value, blockchain involvement, use cases, & more.
Some are stable and tested in the above contexts, while others aren’t.
Rulings as of April 9/21
Due to the previously mentioned context, mujtahideen are still approaching this with caution for the time being, therefore they still consider it harām.
Last night I obtained the latest opinion of Ayatullah Sistani. He states that because this field has not yet ‘settled’ into a stable financial instrument, he does not have an opinion about it either way at this time, and his muqallideen should refer to other grand marāji‘.
To my knowledge, no other grand marja‘ has declared digital currency as halāl at this time.
2 Exceptional cases:
Selling or using crypto that you have mined yourself is permissible. You should sell it as soon as possible.
Ayatullah Shubayri Zanjani allows being paid for halāl work with crypto, provided your gov’t considers it as legal tender.