$INX
Sharia Ruling and Standard
Ruling on purchasing the currency: It is questionable and tends toward impermissibility (not Sharia-compliant) according to most contemporary Sharia supervisory boards and bodies, since the platform’s revenue and a substantial part of its core services are based on brokering prohibited derivatives contracts (Perpetual Swaps/Futures) and prediction markets (gambling).
Regarding spot purchases: Buying via spot avoids directly engaging in leveraged or usurious transactions as a trader. However, owning the platform token (INX) is considered an investment in a governance and utility instrument for a platform whose operations include financial instruments prohibited under Sharia.
Sharia Ruling and Standard
Ruling on purchasing the currency: It is questionable and tends toward impermissibility (not Sharia-compliant) according to most contemporary Sharia supervisory boards and bodies, since the platform’s revenue and a substantial part of its core services are based on brokering prohibited derivatives contracts (Perpetual Swaps/Futures) and prediction markets (gambling).
Regarding spot purchases: Buying via spot avoids directly engaging in leveraged or usurious transactions as a trader. However, owning the platform token (INX) is considered an investment in a governance and utility instrument for a platform whose operations include financial instruments prohibited under Sharia.