Pakistan's crypto chief discusses digital assets' Shariah status with Mufti Taqi Usmani

Mufti Usmani issued a fatwa in June declaring the purchase of goods with cryptocurrency impermissible under Islamic law (Shariah)

Web Desk

|

11 Jul 2026

Pakistan Virtual Assets Regulatory Authority (PVARA) Chairman and Minister of State for Crypto and Blockchain Bilal Bin Saqib on Saturday said that he held a constructive discussion with renowned Islamic scholar Mufti Taqi Usmani on digital assets and the ongoing debate over their Shariah status, stressing the need for collaboration between religious scholars, regulators and industry experts.

The discussion came after Mufti Usmani issued a fatwa in June declaring the purchase of goods with cryptocurrency impermissible under Islamic law (Shariah).

“We are united on one fundamental objective: protecting Pakistanis from fraud, exploitation and financial harm," Saqib said in a statement on X.

“I shared that blockchain, digital assets, stablecoins and tokenised real-world assets represent a broad spectrum of technologies and use cases. As such, they merit careful technical assessment alongside rigorous Shariah examination, rather than being viewed through a single lens."

“As this field continues to evolve, I look forward to continued engagement between respected scholars, regulators and industry experts so that Pakistan’s approach is guided by both Islamic principles and a comprehensive understanding of emerging technologies.”