Mufti Faraz Adam

Mufti Faraz ibn Adam al-Mahmudi is among the most prolific contemporary Hanafi scholars working at the intersection of Islamic law and financial technology. He is the founder and CEO of Amanah Advisors. His position on crypto has demonstrably evolved through three phases. After industry feedback and further research, his position shifted significantly. On DarulFiqh.com, he analyzed three possible classifications and concluded: "My personal view and opinion is that Bitcoins are in the ruling of a currency. They will be a currency as long as people use and exchange them." His most mature framework holds that crypto-assets with a lawful utility can be deemed mal and property from a Shariah perspective based on al-Urf al-Khass (customary practice of a specific group).