Pakistani Crypto Regulator Seeks Dialogue After Scholar Backs Ruling Against Crypto Purchases

Pakistan's Virtual Assets Regulatory Authority (PVARA) is seeking continued dialogue on the treatment of digital assets after meeting with Islamic scholar Mufti Taqi Usmani, who backed a ruling against purchases made with crypto.

The discussion covered various topics including blockchain technology, stablecoins, and tokenized real-world assets (RWAs), as well as the need to protect Pakistanis from fraud, exploitation, and financial harm.

PVARA chairman Bilal bin Saqib emphasized that different categories of digital assets require 'careful technical assessment alongside rigorous Shariah examination' rather than being viewed through a single lens.