Voidable (Safahī) Transactions in the Cryptocurrency Market with an Emphasis on Imam Khomeini’s Viewpoints

Document Type : Original Article

Authors

• Ahmad Ali Yosefi ¹
• Ahmad Mohammadi ²
• Zahra Vatani ³
• Hamed Haji Ali Mirzaei ⁴

¹ Associate Professor at the Institute of Islamic Culture and Thought

² PhD Candidate, Imam Khomeini and Islamic Revolution Research Institute, Tehran, Iran

³ Assistant Professor, Imam Khomeini and Islamic Revolution Research Institute, Tehran, Iran

⁴ Assistant Professor, Supreme National Defense University

10.22067/jfiqh.2022.72432.1187

Abstract

The ongoing transactions in the society and the potential losses that may affect the parties involved in transactions has inspired jurisonsults to extract some criteria for regulating transactions to prevent financial loss. The absence of each of these criteria leads to the voidability and nullification of transaction. The criteria include: The power over surrender, value of the price and the priced item, rational benefits for both parties, ownership of transaction subject, clarity and specificity of the price and the priced item, and irrational prices, which are considered common phenomena in today’s market. The cryptocurrency market, which has emerged with relatively specific features, has characteristics that can reinforce the suspicion of voidability on their own. Therefore, aligning the mentioned criteria in juriconsulting books with the cryptocurrency market and analyzing their specific features revels that the criteria for the voidability of transactions in the cryptocurrency market is missing and the market’s specific features do not lead to their voidability. Rather, it’s entering the market without a scientific background that leads to the voidability of some transactions. Therefore, in order to eliminate the grounds for the voidability of transactions in the cryptocurrency market, we should acquire knowledge on the topic.

Keywords

• voidable (Safahī) transactions
• cryptocurrency
• Imam Khomeini

Main Subjects

• Civil jurisprudence

---

References

Akhavān Āzar, Piymān. Arz-hā-yi Dījītāl Bitcoin Blockchains  va Mafāhīm Pāyih. S.l. Vīnā- Ātīnigar. 2020/1398.

Āl Kāshif al-Ghiṭāʾ. Muḥammad Ḥusayn. TaḥrīrMajala. Najaf: al-Maktaba al-Murtażawīya. Chāp-i Awwal, 1940/1359.

ʿAllāmah Ḥillī, Ḥasan  ibn Yūsuf. Qawāʾid al-Aḥkām fī Maʿrifa al-Ḥalāl wa al-Ḥarām. Qum: Daftar-i Intishārāt-i Islāmī. Chāp-i Awwal, 1993/1413.

ʻĀmulī, Sayyid Javād ibn Muḥammad. Miftāḥ al-Karāmah fī Sharḥ Qawāʿid ʿAllāma. Qum: Daftar-i Intishārāt-i Islāmī. Chāp-i Jadīd, Chāp-i Awwal, 1998/1419.

Anṣārī, Murtaḍā ibn Muḥammad Amīn. Kitāb-i al-Makāsib. Qum: Kungirah-yi Jahānī Buzurgdāsht Shaykh Aʿẓam Anṣārī. Chāp-i Awwal, 1995/1415.

Anṣārī, Murtaḍā ibn Muḥammad Amīn. Kitāb-i al-Makāsib. Qum: Mūʾassisa Maṭbūʻātī Dār al-Kitāb. Chāp-i Sivum, 1990/1410.

Baḥrānī, Yūsuf. Ḥadāʾiq al-Nāḍira fī Aḥkām al-ʿItra Ṭāḥira. Qum: Daftar Intishārāt-i Islāmī. 1985/1405.

Bujnūrdī, Ḥasan. al-Qawāʿid al-Fiqhīyah. Qum: al-Hādī. Chāp-i Awwal, 1998/1419.

Fāḍil Miqdād, Miqdād ibn ʿAbd Allāh. Kanz al-ʿIrfān fī Fiqh al-Qurān. Qum: Murtażawī. 2004/1425.

Farāhīdī, Khalīl ibn Aḥmad. Kitāb al-ʻAyn. Qum: Hijrat. Chāp-i Duwwum, 1989/1409.

Ḥakīm, Muḥsin. Nahj al-Faqāha. Qum: Intishārāt-i Fiqh, Chāp-i Awwal, 2001/1379.

Ḥillī, Ḥusayn. Buḥūth al-Fiqhīyah. Beirut: Dār al-Zahrā, s.d.

Hoffman, Neil. Bitcoin bi Zabān-i Sādih. translated by Muṣṭafā Dihqān. s.l. Dārīyā. s.d.

Ḥusaynī  Marāghī, ʻAbd al-Fattāḥ  ibn ʿAlī. al-ʿAnāvīn al-Fiqhīya. Qum: Mūʾassisa al-Nashr al-Islāmī. Chāp-i Awwal, 1997/1418.

Ibn Āthīr, Mubārak ibn Muḥammad. al-Nihāya fī  Gharīb al-Ḥadīth wa al-Athar. Qum: Ismāʻīlīyān. Chāp-i Chāhārum, 1989/1367.

Ibn Ḥīyūn Nuʿmān ibn Muḥammad. Daʿāʾim al-Islām wa Dhikr al-Ḥalāl wa al-Ḥarām  wa al-Qaḍāyā wa al-Aḥkām. Qum: Āl al-Bayt(AS). Chāp-i Duwwum, 2007/1385.

Ibn Manẓūr, Muḥammad ibn Mukarram. Lisān al-ʿArab. Beirut: Dār al-Fikr. Chāp-i Sivum, 1994/1414.

Imāmī, Sayyid Ḥasan. Ḥuqūq Madanī. Tehran: Islāmī. s.d.

ʿIrāqī, Żīyāʾ al-Dīn, ʿAlī,  Kazāzī. Qawāʾid lā Żarar. Qum: Mūʾassisa al-Nashr al-Islāmī. Chāp-i Awwal, 1997/1418.

Isfahānī, Muḥammad Ḥusayn. Ḥāshīya Kitāb-i al-Makāsib. Qum: Anvār al-Hudā. Chāp-i Awwal, 1998/1376.

Ishtihārdī, ʿAlī Panāh. Madārik al-ʿUrwa. Tehran:  Dār al-Uswah. Chāp-i Awwal,  1996/1417.

Jamʻī az az Muʾalifān. Majalih-yi Fiqh Āl al-Bayt(AS). Qum: Mūʾassisa Dāyra al-Maʿārif Fiqh-i Islāmī. Chāp-i Awwal, s.d.

Jawharī, Ismāʻīl  ibn Ḥammād. al-Ṣiḥāḥ Tāj al-Lugha wa Ṣiḥāḥ ʿArabīya. Beirut: Dār al-ʻIlm li-l-Malāyīn, 1987/1407.

Jazāyrī, Muḥammad Jaʻfar. Hudā al-Ṭālib ilā Sharḥ al-Makāsib. Qum: Dār al-Kitāb. Chāp-i Awwal, 1995/1416.

Jazāyrī, Sayyid Ḥamīd, Muḥammad Żīyāʾ Burhānī. “Barrisī Ārāʾ Fuqahā dar Qāʿidih-yi  lā Żarar  bā Taʾkīd bar Dīdgāh Ḥukumatī Imām Khumaynī”, Guftimān-i Fiqh Ḥukumatī. Yr. 3, no. 5, autumn and winter 2020/1398, 23-46.

Karakī, ʿAlī ibn Ḥusayn. Jāmiʿ  al-Maqāṣid. s.l.: Āl al-Bayt. 1994/1414.

Kātūzīyān, Nāṣir.  Amvāl va Mālikīyat. Tehran: Nashr Mīzān, 2007/1385.

Khiradmand, Muḥsin. “Barrisī Fiqhī  Istikhrāj va Mubādilih-yi Ramz Arz-hā bā Tamarkuz va Shabakih Bitcoin”, Maʿrifat Iqtiṣād Islāmī. yr. 10, no. 2, spring and summer  2020/1398, 109-124.

Khūʾī, Abū al-Qāsim. al-Mustanad fī Sharḥ al-ʿUrwa  al-Wuthqā.  Muqarr Murtaḍā Burūjirdī. s.l. s.n. s.d.

Khūʾī, Abū al-Qāsim. Miṣbāḥ al-Faqāha: al-Makāsib. Muqarr Muḥammad ʿAlī Tawḥīdī. s.l. s.n. s.d.

Khumaynī, Rūḥ Allāḥ. al-Makāsib al-Muḥarramah. Qum: Mūʾassisah-yi Tanẓīm va Nashr-i Āsār-i  Imām Khumaynī. Chāp-i Awwal, 1995/1415.

Khumaynī, Rūḥ Allāḥ. al-Rasāʾil. researched by Mujtabā Tihrānī. Qum: Ismāʻīlīyān. 2007/1385.

Khumaynī, Rūḥ Allāḥ. Kitāb-i al-Bayʿ. Beirut: Mūʾassisa al-Nashr al-Islāmī. Chāp-i Panjum, 1995/1415.

Khumaynī, Rūḥ Allāḥ. Kitāb-i al-Bayʿ. Tehran: Mūʾassisah-yi Tanẓīm va Nashr-i Āsār-i  Imām Khumaynī. Chāp-i Awwal, 2000/1421.

Khumaynī, Rūḥ Allāḥ. Kitāb-i al-Bayʿ. Tehran: Mūʾassisah-yi Tanẓīm va Nashr-i Āsār-i  Imām Khumaynī. Chāp-i Chāhārum, 2013/1434.

Khuwānsārī Najafī, Mūsā. Risālah fī Qāʿidih-yi Naf-yi al-Żarar. Tehran: al-Maktaba al-Muḥammadīya. Chāp-i Awwal, 1954/1373.

Māhnāmah Shabakih. Jūyandigān-i Bitcoin. S.l. Māhnāmah Shabakih.

Makārim Shīrāzī, Nāṣir. Barrisī  Ṭuruq Farār az Ribā. Qum: s.n. Chāp-i Awwal, s.d.

Makārim Shīrāzī, Nāṣir. Buḥūth al-Fiqhīyah Hāma. Qum: Madrisah-yi Imām ʿAlī ibn Abī  Ṭālib. Chāp-i Awwal, 2001/1422.

Makārim Shīrāzī, Nāṣir. Ḥilah-hā-yi Sharʿī va Chārihjūʾī- hā-yi Ṣaḥīḥ. Qum: Intishārāt-i Madrisah-yi Imām ʿAlī ibn Abī  Ṭālib (AS). Chāp-i Duwwum, 2007/1428.

Mīrzā-yi Qumī, Abū al-Qāsim ibn Muḥammad Ḥasan. Jāmiʿ al-Shitāt fī Ajvibat al-Suʾālāt. Tehran:  Kiyhān. Chāp-i Awwal, 1993/1413.

Muqaddas Ardabīlī, Aḥmad ibn Muḥammad. Majmaʻ al-Fāʾida wa al-Burhān fī Sharḥ Irshād al-Adhhān. Qum: Daftar-i Intishārāt-i Islāmī. Chāp-i Sivum,  2001/1379.

Muqrī, Aḥmad ibn Muḥammad. al-Miṣbāḥ al-Munīr fī  Gharīb al-Sharḥ al-Kabīr. Qum: Dār al-Hijrah,  Chāp-i Duwwum, 1994/1414.

Musawī Bujnūrdī, Muḥammad. Qawāʿid al-Fiqhīyah. Tehran: Urūj. Chāp-i Sivum, 1981/1401.

Muṣṭafavī, Ḥasan. Al-Taḥqīq fī Kalamāt al-Qurān al-Karīm. Tehran: Vizārat Farhang va Irshād-i Islāmī. Chāp-i Awwal, 1990/1368.

Nāʾīnī, Muḥammad Ḥusayn. al-Makāsib  wa al-Bayʿ.  Qum: Mūʾassisa al-Nashr al-Islāmī. Chāp-i Awwal, 1993/1413.

Navābpūr, ʻAlī Riżā, Aḥmad ʻAlī Yūsufī, Muḥammad Ṭālibī. “Tahlīl-i Fiqhī Kārkird-hā-yi Pūl-hā-yi Ramznigārī Shudih Murid Muṭāliʻih  Bitcoin”. Faṣlnāmih-yi ʻIlmī Pazhūhīsh Iqtiṣādī Islāmī. yr. 18, no. 72, winter 2019/1397, 34-59.

Qurashī Bunābī, ʻAlī Akbar. Qāmūs Qurān. Tehran: Dār al-Kutub al-Islāmīyya. Chāp-i Shishum, 1992/1412.

Rāghib Iṣfahānī, Ḥusayn  ibn Muḥammad. Mufradāt Alfāẓ Qurān. Beirut:  Dār al-Qalam. . Chāp-i Awwal, 1992/1412.

Rashtī, Ḥabīb Allāh ibn  Muḥammad ʻAlī. Kitāb-i al-Ijārah. S.l. s.n. Chāp-i Awwal,1893/1311.

Rūḥānī, Ṣādiq. Fiqh al-Ṣādiq. Qum: Dār al-Kitāb- Madrisah-yi Imām Ṣādiq (AS). Chāp-i Awwal, 1992/1412.

Rūḥānī, Ṣādiq. Minhāj al-Faqāha. Qum: Anvār al-Hudā. Chāp-i Panjum, 2008/1429.

Ṣadr, Muḥammad Bāqir. Iqtiṣādanā. Daftar-i Tablīghāt-i Islāmī. Chāp-i Awwal, 1996/1417.

Ṣāḥib Jawāhir. Muḥammad Ḥasan ibn Bāqir. Jawāhir al-Kalām fī Sharḥ Sharāyʿ al-Islām.  Beirut: Dār Iḥyāʾ al-Tūrāth al-ʻArabī. Chāp-i Sivum, 1984/1404.

Shahīd Awwal, Muḥammad ibn Makkī. al-Lumʿa al-Dimashqīya fī Fiqh al-Imāmīya. Beirut:  Dār al-Turāth- al-Islāmīya, Chāp-i Awwal, 1990/1410.

Shahīd Thānī, Zayn al-Dīn ibn ʿAlī. al-Rawḍa al-Bahīya fī Sharḥ al-Lumʿah al-Dimashqīyah, Ḥāshīyih Kalāntar. Qum: Kitābfurūshī, Dāwarī, Chāp-i Awwal, 1990/1410.

Suliymānī, Muḥammad Mahdī, Ḥāmid Sulṭānīnizhād, Mahdī Pūr Muṭahar. “Barrisī Fiqhī  Pūl Majāzī”, Dū Faṣlnāmih-yi ʻIlmī Pazhūhīsh Taḥqīqāt  Mālī Islāmī. yr. 6, no. 2, spring and summer  2018/1396, 56-74.

Ṭurayḥī, Fakhr al-Dīn ibn Muḥammad. Majmaʿ al-Baḥrayn. Tehran: Murtażavī. Chāp-i Sivum, 1997/1375.

Yazdī, Sayyid Muḥammad Kāẓim. al-ʿUrwa  al-Wuthqā maʿa al-Taʿlīqāt. Qum: Intishārāt-i Madrisah-yi Imām ʿAlī ibn Abī  Ṭālib (AS), Chāp-i Awwal, 2007/1428.