Pakistan Asks Scholars to Clarify Islamic Crypto Edict

Pakistan's regulator has asked for clarification on Islamic edict regarding cryptocurrencies.

The Pakistan Virtual Assets Regulatory Authority (PVARA) wants to know how digital assets should be classified, specifically whether they are speculative or asset-backed tokens.

This request comes after a leading Islamic seminary ruled that crypto-based purchases are not permissible under Islamic law.

The ruling has sparked debate about the compatibility of cryptocurrencies with Islamic finance principles.