🔥 Trending Religious Leaders Weigh In on Cryptocurrency Trading

Religious Ruling on Cryptocurrency Trading

The permissibility of cryptocurrency trading under Islamic law (Sharia) is a complex and frequently debated topic. Recently, a significant development occurred in Pakistan, where a leading Islamic scholar issued a new religious ruling (fatwa) on the matter.

Pakistan's Leading Mufti Declares Crypto Trading Haram

In June 2026, Mufti Muhammad Taqi Usmani, a prominent Islamic scholar and president of Darul Uloom Karachi, issued a fatwa declaring cryptocurrency trading impermissible (haram) under Islamic law ⁴⁸. This ruling has created considerable discussion within the digital asset market and among Muslim communities globally ³.

The fatwa explicitly states that the buying, selling, and trading of cryptocurrencies are forbidden ⁶. It covers a broad range of digital assets, including cryptocurrencies, tokens, and stablecoins like USDT ¹⁴. The ruling emphasizes that merely changing technical names will not alter the fundamental Islamic legal principles applied to these assets ³.

Reasons for the Ruling

Mufti Usmani's fatwa is based on the argument that cryptocurrencies, tokens, and stablecoins do not qualify as "maal" (wealth) under Islamic law ⁴. In Islamic finance, "maal" typically refers to tangible assets or assets with intrinsic value that can be owned and exchanged according to Sharia principles. The fatwa implies that cryptocurrencies lack certain characteristics required for them to be considered legitimate wealth in an Islamic context.

Broader Context and Ongoing Debates

This ruling from Pakistan's top cleric comes at a time when Pakistan is actively developing its virtual assets framework and engaging in debates surrounding the crypto sector ¹⁵. While this fatwa represents a significant religious opinion, it's important to note that the broader Islamic world has diverse views on the permissibility of cryptocurrencies.

Some scholars and Islamic finance institutions have explored frameworks for "halal" (permissible) crypto investing, considering aspects like underlying assets, smart contracts, and the avoidance of speculative or interest-based practices ⁹¹⁰. However, the recent fatwa from Mufti Taqi Usmani highlights a strong stance against current forms of cryptocurrency trading from a respected authority in Islamic jurisprudence.