Mufti Taqi Usmani Issues Fatwa Declaring Cryptocurrency Not Permissible for Transactions
Islamabad: Prominent Pakistani Islamic scholar Muhammad Taqi Usmani has issued a religious ruling (fatwa) stating that, based on the research and opinions of experts available to him, cryptocurrency does not qualify as “wealth” (mal) under Islamic jurisprudence.
According to the fatwa, cryptocurrencies represent entries of virtual numbers in digital accounts rather than tangible or recognized assets. On this basis, Mufti Taqi Usmani concluded that purchasing goods or conducting transactions using cryptocurrency is not permissible under his interpretation of Islamic law.
He added that this ruling applies whether the digital asset is held in the form of USDT (Tether) or any other cryptocurrency token.
The authenticity of the fatwa was confirmed by his son, Hassan Usmani, who stated that the ruling circulating publicly was indeed issued by Mufti Taqi Usmani.
