A Study on Viability of Cryptocurrency Adoption in Qatar: A Thematic Coding Approach of Fifty Reviews

This study investigates the factors driving cryptocurrency adoption in Qatar, with a focus on creating a comprehensive taxonomy to guide policymakers and stakeholders in this emerging financial landscape. Given Qatar's pivotal role in the Gulf Cooperation Council (GCC) and the broader Middle East and North Africa (MENA) region, the paper is particularly significant. By examining cryptocurrency adoption through the lens of Islamic finance principles and regulatory considerations, the study offers valuable insights into this evolving financial domain. The research employs a thematic coding analysis of 50 literature sources, covering aspects such as regulatory frameworks, Sharia compliance, socio-cultural factors, and technological advancements, ensuring a well-rounded understanding of the topic. The findings reveal a complex interplay of factors influencing cryptocurrency adoption in Qatar, including the need for Sharia-compliant models, robust regulatory frameworks, and the impact of cultural and religious perspectives on financial innovation. Additionally, the study highlights the importance of addressing privacy and security concerns in this context. The research emphasizes the necessity of a balanced approach that tackles regulatory challenges, ensures Sharia compliance, and leverages technological advancements to facilitate successful cryptocurrency adoption. This study significantly contributes to the understanding of cryptocurrency adoption in the Islamic world and provides a strong foundation for future research and policy development in Qatar and similar economies.