Q&A: Regular and Halal Crypto Exchanges

Question: I am a practicing Muslim and trade tokens only on the spot market. However, the exchange I use lists a huge number of assets, including memecoins and other clearly non-Sharia-compliant tokens. Is such trading permissible from a Sharia perspective, especially if fully Islamic exchanges exist?

Quan2um Sharia Advisor, Habib Aman:
In general, trading on a regular exchange that offers both Sharia-compliant and non-compliant instruments is permitted, provided the investor's activities are fully Sharia-compliant. The mere presence of haram instruments on the platform does not make transactions prohibited, as the exchange acts as a neutral trading infrastructure, not a party to the transaction.

At the same time, if a fully Sharia-compliant exchange exists and provides a comparable level of access, liquidity, reliability, and regulatory protection, it is preferable to use it. This helps reduce the risk of coming into contact with unauthorized tools and avoid unnecessary contact with them.