Pakistan’s Virtual Assets Regulatory Authority (PVARA) said it has sought dialogue with Islamic scholars on cryptocurrency regulation after prominent scholar Mufti Muhammad Taqi Usmani issued a fatwa declaring the use and payment of cryptocurrencies to be against Islamic law. Usmani also said Bitcoin and other digital assets do not meet the Sharia definition of wealth. The ruling is not legally binding, but it could affect about 40 million users in Pakistan who use digital assets through informal channels. The development comes as the country pushes ahead with its 2026 Virtual Assets Act. According to CryptoBriefing, the tension between a religious ruling and the state’s regulatory goals could shape the region’s regulatory framework.
PVARA opens dialogue on crypto regulation
Pakistan’s Virtual Assets Regulatory Authority (PVARA) said it has sought talks with Islamic scholars on cryptocurrency regulation, according to Techub News.
The move follows a fatwa issued by prominent Islamic scholar Mufti Muhammad Taqi Usmani, who said the use and payment of cryptocurrencies violate Islamic law. He also said Bitcoin and other digital assets do not fit the Sharia definition of wealth.
Ruling could affect millions of informal users
The fatwa is not legally binding, but it could affect about 40 million users in Pakistan who use digital assets through informal channels.
According to CryptoBriefing, the development comes as Pakistan advances its 2026 Virtual Assets Act. The tension between the religious ruling and the state’s regulatory goals could have an effect on the region’s regulatory framework.
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