Research Article

Gold Linking and Its Impact on Cryptocurrency Value and Islamic Rulings

Number: Special Issue July 9, 2026
TR EN

Gold Linking and Its Impact on Cryptocurrency Value and Islamic Rulings

Abstract

This study examines the issue of linking cryptocurrencies to gold by analyzing its impact on their economic value and legal ruling within Islamic jurisprudence. It proceeds from the premise that gold has historically functioned as a relatively stable asset during times of crisis. Accordingly, the study explores the feasibility of employing gold as a backing asset for cryptocurrencies to enhance stability, reduce volatility, and strengthen market confidence. The research problem centers on the dual challenges posed by contemporary cryptocurrencies: sharp price volatility and the absence of tangible backing or an official guarantor. These characteristics have contributed to divergent juristic opinions regarding their permissibility. Opinions of impermissibility are often grounded in specific legal causes, particularly the uncertain or unstable nature of thamaniyyah (monetary character and function as a medium of exchange), the lack of guarantee, and the prevalence of excessive uncertainty (gharar) and speculation. The study therefore investigates whether linking cryptocurrencies to gold may address these economic and juristic concerns, and whether a transformation in their economic characterization could lead to a corresponding change in their legal ruling, in accordance with the principle that legal rulings vary according to their effective causes. The study aims to evaluate the economic and juristic implications of gold linkage in cryptocurrencies, focusing on its effects on volatility, stability, investor confidence, adoption, and the reassessment of juristic rulings in light of the removal of previously identified prohibitive causes. Adopting an analytical methodology, the study integrates economic analysis with juristic reasoning. It concludes that gold backing, particularly when combined with issuance by a legally recognized authority, can mitigate volatility and address key legal objections, thereby opening the possibility of reconsidering the legal ruling in line with established juristic principles.

Keywords

Islamic Law, Gold-Backing Cryptocurrencies, Cryptocurrencies Value, Cryptocurrencies Guarantee, Sharia ruling on cryptocurrencies

References

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APA
Hank, N. (2026). Gold Linking and Its Impact on Cryptocurrency Value and Islamic Rulings. İslam Hukuku Araştırmaları Dergisi, Special Issue, 1-24. https://doi.org/10.59777/ihad.1910186
AMA
1.Hank N. Gold Linking and Its Impact on Cryptocurrency Value and Islamic Rulings. İslam Hukuku Araştırmaları Dergisi. 2026;(Special Issue):1-24. doi:10.59777/ihad.1910186
Chicago
Hank, Naim. 2026. “Gold Linking and Its Impact on Cryptocurrency Value and Islamic Rulings”. İslam Hukuku Araştırmaları Dergisi, no. Special Issue: 1-24. https://doi.org/10.59777/ihad.1910186.
EndNote
Hank N (July 1, 2026) Gold Linking and Its Impact on Cryptocurrency Value and Islamic Rulings. İslam Hukuku Araştırmaları Dergisi Special Issue 1–24.
IEEE
[1]N. Hank, “Gold Linking and Its Impact on Cryptocurrency Value and Islamic Rulings”, İslam Hukuku Araştırmaları Dergisi, no. Special Issue, pp. 1–24, July 2026, doi: 10.59777/ihad.1910186.
ISNAD
Hank, Naim. “Gold Linking and Its Impact on Cryptocurrency Value and Islamic Rulings”. İslam Hukuku Araştırmaları Dergisi. Special Issue (July 1, 2026): 1-24. https://doi.org/10.59777/ihad.1910186.
JAMA
1.Hank N. Gold Linking and Its Impact on Cryptocurrency Value and Islamic Rulings. İslam Hukuku Araştırmaları Dergisi. 2026;:1–24.
MLA
Hank, Naim. “Gold Linking and Its Impact on Cryptocurrency Value and Islamic Rulings”. İslam Hukuku Araştırmaları Dergisi, no. Special Issue, July 2026, pp. 1-24, doi:10.59777/ihad.1910186.
Vancouver
1.Naim Hank. Gold Linking and Its Impact on Cryptocurrency Value and Islamic Rulings. İslam Hukuku Araştırmaları Dergisi. 2026 Jul. 1;(Special Issue):1-24. doi:10.59777/ihad.1910186