BUSINESSJul 15 · 18:50 UTCDAWN[email protected] (Reuters)

Crypto czar asks Jamia Darul Uloom to distinguish between speculative crypto, asset-backed tokens

Pakistan's Virtual Assets Regulatory Authority (PVARA) Chairman Bilal bin Saqib urged Jamia Darul Uloom to differentiate between speculative cryptocurrencies and asset-backed digital tokens following a fatwa deeming crypto-based purchases impermissible under Islamic law. The regulator aims to evaluate digital assets by category, emphasizing Shariah-compliant instruments like blockchain-recorded sukuk, gold-backed tokens, and stablecoins.

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Bilal bin SaqibpersonJamia Darul UloomorganizationMufti Taqi UsmanipersonPakistan Virtual Assets Regulatory AuthorityorganizationIslamic bond (sukuk)topicgold-backed tokenstopicstablecoinstopicBlockchaintopic

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