What is Zakat on cryptocurrency?

What is Zakat on cryptocurrency?

Cryptocurrency refers to a form of currency developed using blockchain and digital technologies. According to the decision of the Selangor State Fatwa Committee meeting held on 17 August 2021, it is deemed harus (permissible) to engage in transactions involving digital currencies. This includes their use as a medium of exchange, for remittance purposes, and as a store of value.