Policy · 1h ago
Pakistan's Top Cleric Declares Crypto Trading Haram
Mufti Muhammad Taqi Usmani, Pakistan's leading Islamic scholar, issued a fatwa declaring cryptocurrency trading impermissible under Islamic law. The ruling could impact crypto adoption in the country, where religious edicts carry significant weight. It adds regulatory uncertainty for Pakistan's growing crypto user base.
Meridian48 take
While non-binding, the fatwa may pressure regulators and banks to restrict crypto activity, potentially stifling innovation in Pakistan's fledgling digital asset market.
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