legal – Islamic jurisprudence analysis of exchanging extractable currency in Islamic economics

Protecti One of the issues that has been considered with the expansion of cyberspace and international technologies in the direction of globalization is the phenomenon of virtual currency and related mechanisms. This phenomenon stems from the growth of technology called blockchain and its use in cyberspace. In this regard, considering the importance of religious issues and the spread of threats and opportunities of cyberspace phenomena and the need to determine the appropriate position on exchange and dealing with these currencies, it seems that the issue of accurate knowledge of virtual currencies and its analysis It is important and necessary. In this research, first of all, it has been tried to explain the virtual and economic dimensions of virtual currencies by using historical, fundamental and descriptive methods., then based on valid jurisprudential methods, including Jurisprudence of transactions and Islamic jurisprudence based on the framework of Islamic economics ruling of exchange can be analyzed with extractable virtual currencies (such as bitcoin).The results show that, firstly, the types of virtual currencies are fundamentally different from each other, and secondly, the value of the extractable virtual currency (such as bitcoin) cannot be determined rationally and religiously, assuming the existence of customary taxation. Third, over time, the focus will be on extraction and, consequently, the concentration of wealth on this mechanism, which will be opposed to the distributive justice of wealth.