Crypto Czar Asks Jamia Darul Uloom to Distinguish Between Speculative Crypto, Asset-Backed Tokens

Pakistan's crypto push clouded by Islamic edict, regulator asks for ...

Crypto is 'haram': Top Pakistani cleric Mufti Taqi Usmani's fatwa triggers sell-off as regulator seeks clarification

The Jamia Darul Uloom Karachi seminary has stated that cryptocurrencies do not currently qualify as wealth under Islamic law and therefore cannot be considered a legitimate medium of exchange or payment.

Bilal bin Saqib asks Jamia Darul Uloom to separate speculative crypto from asset-backed tokens

The Pakistan Virtual Assets Regulatory Authority (PVARA) is seeking to resolve a regulatory hurdle after a prominent seminary declared digital currency transactions impermissible under Islamic law. PVARA Chairman Bilal bin Saqib has requested Jamia Darul Uloom to distinguish between speculative cryptocurrencies and asset-backed digital tokens after a fatwa issued on June 10 by Mufti Taqi […] The post Bilal bin Saqib asks Jamia Darul Uloom to sep…