Crypto czar holds 'constructive' discussion with Mufti Taqi Usmani on Shariah status of digital assets

Pakistan Virtual Assets Regulatory Authority (PVARA) Chairman Bilal bin Saqib discussed the Shariah status of digital assets with Mufti Taqi Usmani after a fatwa declared cryptocurrency transactions impermissible. The fatwa, issued by Darul Ifta, Jamia Darululoom, argued cryptocurrency is not recognized as 'maal' (wealth) in Sharia law. Saqib emphasized the need for technical and Shariah assessments of blockchain technologies to ensure regulatory and ethical compliance.