Pakistan's Crypto Regulator Seeks Dialogue with Islamic Scholars on Digital Assets

The Pakistan Virtual Assets Regulatory Authority (PVARA) is seeking continued dialogue on how digital assets should be assessed under Islamic law, following a recent ruling by prominent scholar Mufti Taqi Usmani.

Usmani and five other scholars issued an Islamic legal ruling that declares crypto-based purchases impermissible, including transactions involving stablecoins such as USDT.

PVARA chairman Bilal bin Saqib met with Usmani to discuss the matter, and emphasized the need for a differentiated approach to digital assets, rather than a uniform one.

The regulator is urging scholars and regulators to examine each category of digital assets separately, considering both technical and Shariah review.