Pakistan’s most influential Islamic scholar, Mufti Muhammad Taqi Usmani, has issued a fatwa declaring cryptocurrency purchases, including those made with USDT and other tokens, impermissible under Sharia law. The ruling, published by Darul Uloom Karachi and signed by Usmani alongside six other scholars, describes digital assets as “fictitious numbers in an account” and not qualifying as maal (wealth). This fatwa, while not legally binding, could significantly impact the perception of cryptocurrencies among Muslim investors in Pakistan. In response, the Pakistan Virtual Assets Regulatory Authority (PVARA) has engaged in discussions with Usmani to address these religious concerns, reflecting ongoing…