15. Investment in Halal Cryptocurrency

A cryptocurrency management platform is a digital financial platform operated in the borderless realm of cyberspace, but it still requires to be established as a registered company with a separate legal entity. Among the prerequisites of a Shari’ah alternative cryptocurrency model is to be formalised under the company’s rules, either onshore or offshore, as a separate legal entity. It should be managed based on an acceptable system, operational mechanism, standard planning and strategies, legitimate objectives and manifesto, documentations and manuals, policies and guidelines, which must all comply with Shari’ah law and policies within the Maqasid al-Shari’ah (divine objectives). In this chapter, however, an attempt is made to analyse the operational mechanisms of cryptocurrency amidst Maqasid al-Shari’ah.