Pakistan Seeks Crypto Dialogue After Scholar Rejects USDT Payments

Pakistan's Virtual Assets Regulatory Authority (PVARA) Chairman Bilal bin Saqib has called for further discussion on digital assets under Islamic law. This follows a meeting with scholar Mufti Taqi Usmani, who issued an Islamic legal ruling rejecting crypto purchases due to the lack of recognised Shariah wealth status.

Saqib stated that blockchain, stablecoins, tokenized real-world assets, and other digital assets require 'careful technical assessment alongside rigorous Shariah examination' instead of one broad judgment. He also called for continued engagement among scholars, regulators, and industry specialists to protect Pakistanis from fraud, exploitation, and financial harm.

The ruling, issued by Darul Ifta at Jamia Darul Uloom Karachi, stated that purchases made with cryptocurrency, including USDT, were not permitted under Islamic law. Saqib did not directly reject this finding but instead asked for separate reviews of different digital asset categories.