AI Response

My answer to my question about earning from mining coins

Determining what is halal and haram in contemporary financial transactions, especially digital currencies (Crypto), requires presenting details to specialized Shariah boards, but we can analyze this product (GUSD from Gate.io) based on general Islamic finance standards to clarify points that may raise Shariah concerns:
1. Suspicion of "interest-bearing loan" (Riba)
The core idea of this product is depositing a stable coin (USDT) in exchange for another coin (GUSD) at a 1:1 ratio with capital guarantee and offering daily returns.
* Issue: If this process is legally considered a "loan" from the client to the platform, then any increase in returns (daily yields) is considered explicit riba, because the Islamic jurisprudence rule states: "Every loan that yields a benefit is riba."
2. Sources of returns (Treasury bonds)
The text mentions that returns come from "real assets such as tokenized US Treasury bonds."
* Issue: Treasury bonds are fundamentally fixed-interest loans (Debt instruments), which are prohibited in Islamic law because they rely on interest (Riba). Investing in a forbidden asset makes the resulting return also forbidden.
3. Capital guarantee with returns
In Islamic contracts (like Mudarabah or Musharakah), the investor should be exposed to loss as well as entitled to profit.
* Issue: "Guaranteed capital" with "fixed or stable returns" transforms the contract from an investment (trade) into a loan with interest. Contracts that guarantee both the principal and profit generally do not comply with Islamic transaction principles.
4. Use as collateral (Collateral)
The product mentions that GUSD can be used as collateral for borrowing.
* Issue: If borrowing against this currency involves delayed interest or usurious interest, then engaging in this system falls under cooperation in riba-based transactions.
Summary of analysis
Based on the provided data (especially investing in treasury bonds and capital guarantee with returns), many contemporary scholars see these products as falling into the realm of haram (Riba) because they mimic traditional bank loans but with digital coverage.
Advice:
If you are seeking halal alternatives, it is preferable to look for platforms offering "liquidity mining" (Liquidity Mining) in real swap pools (without capital guarantees) or participating in profits of real projects that do not rely on usurious bonds.
Would you like me to help you find fatwas from specific Islamic jurisprudence councils regarding "interest-yielding stablecoins"?
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