Blockchain Network based cryptocurrencies have become the concern of each and every corner of the world in recent years. The economic world is to some extent in a state of dilemma regarding these cryptographies based digital assets. However, some states are accepting it for their easy going, smooth and less cumbersome transaction facilities while others are rejecting it for its potential misuse. Similarly, Islamic financial world is not outside the purview of facing the reality of this revolutionary technological achievement. No decisive verdict on the legal status of cryptocurrency from any authoritative Sharia body has been provided as it is very new in the financial world.