Crypto
Home›Crypto›Regulation›Pakistan PVARA chief calls for dialogue after scholar…
Pakistan PVARA chief calls for dialogue after scholar blocks crypto payments
The PVARA chair said discussions should continue on how different digital asset categories are treated under Islamic law, amid Pakistan’s shift toward a licensed virtual-asset sector.
Pakistan’s virtual-assets regulator is seeking continued dialogue on how digital assets should be treated under Islamic law after meeting an Islamic scholar who backed a ruling against using crypto for purchases, according to Cointelegraph.
Cointelegraph reports that Pakistan Virtual Assets Regulatory Authority (PVARA) chairman Bilal bin Saqib said the discussion covered blockchain technology, digital assets, stablecoins, and tokenized real-world assets, and emphasized the need to protect people from fraud, exploitation, and financial harm.
Cointelegraph also reports that the scholar, Mufti Taqi Usmani, and five other scholars signed an Islamic legal ruling from Jamia Darul Uloom Karachi, which reportedly said crypto purchases, including stablecoins such as USDT, are not permitted because the tokens do not qualify as recognized property or wealth under their interpretation.
Cointelegraph notes that Saqib did not directly challenge that claim, instead calling for scholars, regulators, and industry participants to continue discussing distinctions among digital-asset categories as Pakistan moves from years of restrictions toward a regulated, licensed virtual-asset sector.