Pakistani Cleric Declares Crypto Trading Haram Under Islamic Law

A top Pakistani cleric has issued a fatwa against trading in cryptocurrencies, declaring it 'haram' under Islamic law.

The ruling was made by Mufti Muhammad Taqi Usmani, an Islamic scholar at Darul Uloom Karachi, one of Pakistan's most respected Sunni Islamic seminaries.

The fatwa covers all types of digital assets, including cryptocurrencies like Bitcoin and Ethereum, as well as blockchain-based tokens and stablecoins such as USDT (Tether).

This decision comes at a time when the Pakistani government has been actively promoting the development of the cryptocurrency sector.