Fiat Currency vs Cryptocurrency

Central bank currency vs Cryptocurrency
Scholars who have ruled against
cryptocurrency see nothing wrong with central bank currencies should go through these points.
1- Interest: The currency is issued by means of interest bearing bonds sold by treasuries.
2- Theft: The issuance of new currency transfers wealth from
productive earners to banks that live from interest based
money lending.
3- Monopoly: The issuance of paper money is enforced by
government monopoly. Monopolies are illegal in Islamic law.
4- Images: A large number of scholars regard making images of living creatures to be impermissible, and almost all bank notes
have images of leaders on them. Since so much focus is put on money, and it is easy to think that our sustenance comes from money,
It opens the door for worship-like thoughts toward the figures on the money. The individuals depicted are often those
who are involved in making legislation that supersedes the legislation of the Quran, which according to Islamic creed means they are already objects of worship.
5- Legitimizing Legal Authority:
By using a currency, we reinforce the notion that the authority that issues it is legitimate
and has the right to rule, when in reality many of the regimes issuing currencies are criminal.
6- Bolstering Power of Hostile Parties:
By using a currency, demand increases for the currency, increasing the power of the issuing power. In the case of the modern currency system, all paper currencies are part of an interconnected web that revolves around the US dollar The power of the US dollar is
used to fuel deficits created by funding projects like the Zionist occupation of Palestine and other morally reprehensible behaviors.
7- Dividing the People:
National currencies reinforce national identities, which reduce the sense of common Islamic identity.
8- Vulnerability:
Fiat currencies r subject to mismanagement
& undermining of trust such that they hyperinflate,destroying the savings of working people.
9-
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Compulsion:
Governments force citizens to use national currencies, while Islamic law states that business l transactions must be fully voluntary on all sides.

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