PVARA Chief Seeks Shariah Assessment of Digital Assets Amid Cryptocurrency Trading Ban

Pakistan Virtual Assets Regulatory Authority (PVARA) Chairman Bilal Bin Saqib met Islamic scholar Mufti Muhammad Taqi Usmani to discuss digital assets following a recent fatwa declaring cryptocurrency trading impermissible under Islamic law.

The meeting comes weeks after Mufti Taqi Usmani issued a fatwa that sparked debate over the future of digital assets in Pakistan.

Bilal Bin Saqib explained that blockchain technology, digital assets, stablecoins, and tokenized real-world assets represent a wide range of technologies and use cases, and therefore should not be viewed as a single category.

He emphasized that these technologies require both detailed technical assessment and rigorous Shariah examination before any conclusions are reached.