Whether this coin clears the published standards, and the filings behind that answer. The screen runs first and nothing on the trading side can override it.
Structure, momentum, positioning and levels. Separate from the Sharia verdict above, which this side never overrides.
A coin files no financial statements, so the debt, receivables and interest-income ratios we run on companies cannot be computed for USYC. Its verdict is our own, from the crypto standards set out in full further down this page.
Trade setup
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
Circle USYC (USYC) is currently considered not halal (non-compliant), per our own multi-standard crypto screen. Our full reasoning, the standards behind it and the facts it rests on are below.
🕌 In-house Compliance Research
A coin files no financial statements, so the debt, receivables and interest-income ratios we run on companies cannot be computed for USYC. Its verdict is our own, from the crypto standards set out in full further down this page.
What changed, and when
Verdict history for USYC. Nothing has been recorded for it yet.
ℹ️ Coin verdicts are not change-tracked yet. An empty history here means nothing has been recorded, not that nothing has moved.
Our Sharia Verdict
The return, or the reserve behind the peg, is interest (riba). Every standard we screen on rejects this without exception.
- Pays the holder interest yes Riba. A return paid for holding, whatever it is called.
- Primary use is prohibited no Gambling, adult content or conventional lending as the main use.
- A derivative or leveraged no Leverage, perpetuals or synthetic exposure rather than the asset.
- Has a real function yes Manfa'ah — the token does something besides exist to be traded.
- Governance is transparent not established An open protocol and an identifiable process behind decisions.
- Circle USYC is a tokenized money-market fund
- Token holder receives interest returns tied to short-term Federal Reserve rates
- Backing consists of interest-bearing reserves including treasuries and money-market instruments
Not fully corroborated, and it matters. 3 separate models read this coin and gave different answers for return mechanism, backing, is interest bearing, and the difference changes the outcome: on one reading this coin comes out non-compliant and on another questionable. We publish the reading we hold and tell you it is contested, rather than presenting a verdict as firmer than its basis.
Not established: transparent governance. Our verdict does not assume anything about these — where they would change the answer, we say so rather than guessing.
Fiqh Council of North America (currency treatment) NON-COMPLIANT
Treated as currency, every riba ruling applies - and this token pays, or is backed by, interest.
Fiqh Council of North America, “Regarding the Islamic Ruling on Bitcoins” — default permissibility; treated as fiat currency, so all riba rulings and bai’ al-sarf apply
AMJA (permissible absent clear prohibition) NON-COMPLIANT
Riba is the clear evidence of prohibition this framework asks for.
Assembly of Muslim Jurists of America — Dr. Salah Al-Sawy (Secretary General) and Dr. Yasir Qadhi: transactions are permissible unless clear evidence prohibits them
SC Malaysia SAC (digital assets as mal) NON-COMPLIANT
Riba: the return, or the reserve behind the peg, is interest.
Securities Commission Malaysia, Shariah Advisory Council, 233rd-234th meetings, June-July 2020
Amanah Advisors layered screen (project / token / staking) NON-COMPLIANT
Token layer: the return mechanism is interest.
Amanah Advisors, Crypto Shariah Screening Framework (Mufti Faraz Adam)
Amanie Advisors (staking as a service fee) NON-COMPLIANT
A lending-derived return is not a service fee, however it is presented.
Amanie Advisors (Dr. Daud Bakar) — Shariah certification of Ethereum staking; validation treated as a real service rendered to the network rather than a return on capital
AAOIFI riba principles (adapted to token returns) NON-COMPLIANT
A lending- or interest-derived return is riba regardless of what it is called.
AAOIFI Shariah Standards - riba and non-permissible income, applied to the token's return mechanism (no dedicated crypto standard exists)
Restrictive position (gharar / no intrinsic backing) QUESTIONABLE
Represents a claim on an identifiable off-chain asset rather than a free-floating digital token.
Mufti Muhammad Taqi Usmani (crypto trading and investment impermissible); Dar al-Ifta al-Misriyyah (Egypt, 2018); Diyanet Isleri Baskanligi (Turkey, 2017)
The restrictive position above is shown but excluded from our own verdict: it rejects most digital assets including Bitcoin on gharar alone, so letting it decide would mark nearly everything non-compliant — which is neither our conclusion nor a defensible reading of the evidence. Hiding it would be worse.
This is our own screening verdict, reached by applying each named standard ourselves to the facts above, last established 2026-08-29. Research, not a fatwa — for a decision that binds you, ask a scholar you trust.
SMC — Top Down
Market structure by timeframe, read from real bars. A bias per timeframe rather than a forecast — timeframes disagreeing is information, not noise.
The market-structure read is still being computed — it runs in the background rather than holding this page up. Reload in a moment and it will be here.
Peer Movement
How the rest of the sector moved over the same window. Context for a price move, never a cause of one.
Peer movement computing — it will appear here on its own.
Before you act on this
The questions worth asking about any verdict on this page, answered plainly.
Why is crypto screened differently?
The ratio screen needs a balance sheet. A coin has neither filings nor a debt figure, so the same test cannot run. Compliance turns instead on what the token actually is and does.
What makes a coin non-compliant here?
Most commonly, the token is a claim on interest: a lending protocol, a yield-bearing stablecoin, or a product whose return comes from lending at interest rather than from work performed.
Is a compliant verdict permanent?
No. A protocol can add a lending product or change what its token does. Any verdict that moves is recorded, and a verdict that has not moved is reported as such rather than assumed.
Is the scholarly debate resolved?
Not on every coin. Where real disagreement exists, HTR records both positions instead of picking one. This is a research tool; a ruling for your own holding should come from a qualified scholar.
Open research, not a fatwa. HTR applies published screening standards to filings and publishes what they say, including when they disagree. Nothing here is financial advice or a recommendation to buy or sell. Verdicts can change when new filings land.
Compare with
Same screen, different answers. Comparison is where the standards disagreeing becomes useful rather than confusing.
Peer screening computing — it will appear here on its own.
AI Summary
Plain-language summary of the evidence already on this page — the Sharia screen, structure, momentum, and order flow above. It explains the read; it doesn't make the call. Generated on demand (a live AI call), never run automatically.