A fatwa issued by Mufti Muhammad Taqi Usmani, a leading authority in Islamic finance, has declared the purchase of cryptocurrency impermissible under Islamic law.
The ruling, confirmed as authentic by the scholar's son, advises believers to avoid digital asset transactions and return any books or materials acquired through such means.
The decision carries significant weight in Pakistan and across the broader Muslim world, where Usmani’s opinions on Sharia-compliant finance are widely followed.
The religious prohibition introduces a new layer of friction for cryptocurrency adoption in regions where religious guidance often shapes economic behavior.
While the ruling does not constitute a legal ban, it may deter retail participation among devout investors who rely on such fatwas for ethical and financial decision-making.
This development arrives amid a broader global trend of tightening oversight on digital assets.