Is Litecoin (LTC) halal?
Litecoin (LTC) passes the crypto Shariah screen Sanad uses. Formally confirmed as Shariah-compliant by the Shariah Advisory Council of Securities Commission Malaysia — a government securities regulator — following its 2020 resolution recognizing qualifying digital assets as māl (Shariah-recognized property).
How it was screened
Securities Commission Malaysia's Shariah Advisory Council (SAC) — 234th SAC Meeting, 20 July 2020 Source ↗
About Litecoin
Litecoin is a decentralized, peer-to-peer digital currency designed to enable instant, near-zero cost payments to individuals and merchants worldwide. As an open-source global payment network that functions independently of central banks or intermediaries, its main value proposition lies in providing a scarce digital asset with a fixed maximum supply of 84 million tokens. The network operates using a Proof of Work mechanism where computers solve complex puzzles to confirm…
| Hashing algorithm | Scrypt |
|---|---|
| Categories | Infrastructure · Smart Contract Platform · Layer 1 (L1) · Proof of Work (PoW) · GMCI 30 Index · GMCI Index |
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Frequently asked questions
Is Litecoin halal?
Litecoin (LTC) passes the crypto Shariah screen Sanad uses. Formally confirmed as Shariah-compliant by the Shariah Advisory Council of Securities Commission Malaysia — a government securities regulator — following its 2020 resolution recognizing qualifying digital assets as māl (Shariah-recognized property).
Which Shariah framework is used?
Securities Commission Malaysia's Shariah Advisory Council (SAC) — 234th SAC Meeting, 20 July 2020
Can the result change?
Yes. Crypto projects change, so Sanad re-screens against the framework regularly and updates the verdict when a project changes.