Are we allowed to make our own rulings from research?

Investment Questions and Chats General Investment
#1

It can be difficult for a lay person to ascertain whether a crypto is definitely halal. This is especially the case if they use a particular Proof of Stake (or other) system and the person does not fully understand what constitutes riba.

On an issue like crypto, would it be permissible for a lay Muslim (without qualifications in Islam) who researches crypto and technology (or who doesn’t) to read through white papers and the like and then invest/trade if they reasonably think it is halal to the best of their knowledge?

I ask because I am aware there is only so many cryptos those who are able to make rulings can research and often what ends up happening is we traders have to make personal rulings for ourselves based on our own investigations. Maybe calling it a personal ruling is incorrect. Allah knows best.

Jazak Allah Khayr

As Salaamu Alaykum

#2

Wasalam

May Allah bless you.
You don’t need academic qualification to check if something is halal or not. What you need is the correct knowledge.
If you have sufficient knowledge to understand what is halal and what is haram when it comes to trade in general, and you can apply this knowledge to issues like crypto, then by all mean go for it.

However, if scholars have expressed an opinion that differs with your own research, then trust their researches and leave your opinion to be on the safe side.

In fact, if you understand cryptos properly, then go to your local imam and scholar and work with them to determine if something is halal or not. People should compliment one another in some ways.

And Allah knows best!

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