Document Type : Research Paper

Authors

• Mahdi Hajaghabozorgi ¹
• Hossein Eivazlou ²

¹ Tehran University

² Associate Professor, Faculty of Islamic Studies and Economics, Imam Sadiq University, Tehran, Iran

Abstract

The types of cryptocurrencies have differences from each other.These differences make it impossible issue a general verdict about the trade value of all of them , and it is necessary to first identify the nature of each type of cryptocurrency and then check its trade value.Considering the nature of unstable and stable cryptocurrencies without support, until If they do not have the characteristics of money, they cannot have trade value because they don’t have the criteria of property in Islamic jurisprudence.When they reach this stage, they have credit trade value. About physical asset backed cryptocurrencies because they are just document at first they don’t have trade value by themselves, but if their support has trade value, their transaction will not be a problem. if these cryptocurrencies also reach a stage where they acquire the characteristics of money apart from Being a document they are valued as credit property.The situation is also the same for cryptocurrencies that are backed by fiat money.They are a document that shows the owner's ownership of a credit asset.About the cryptocurrencies backed by another currency it’s necessary to see what stage the cryptocurrency is in. Whether it has reached the time when it becomes a property or not. If it has reached the cryptocurrency that is supported is a document indicating the owner's ownership of a credit property.Of course it may eventually be used by the people or the government as money In this case in addition to being a document it becomes an independent asset

Keywords

• Cryptocurrency
• Trade value
• cryptocurrency'
• s different
• the nature of cryptocurrencies