๐ Crypto & Shariah: A Moment for Reflection
Mufti Muhammad Taqi Usmani and other scholars recently issued a significant ruling concerning cryptocurrency. The June 10, 2026 ruling stated that, according to the research and expert assessment considered by the scholars, cryptocurrencies and stablecoins such as USDT do not qualify as maal (recognized wealth) under Shariah, and purchases made with them were therefore deemed impermissible.
At the same time, Pakistanโs virtual-asset regulator has emphasized that blockchain, stablecoins, tokenized assets and other digital assets involve different technologies and use cases and deserve separate technical and Shariah examination.
๐ The lesson for Muslims:
Before entering any new financial market, we should put Halal and Haram before profit and loss, seek qualified scholarly guidance, and understand exactly what we are buying, selling and owning.
๐ญ Technology changes quickly, but the principles of Shariah remain a guide for responsible financial conduct.
Do you think future Shariah research should examine different digital assets separately rather than treating all crypto assets as one category?
#Crypto #IslamicFinance #Shariah #Bitcoin #USDT #Blockchain #MuftiTaqiUsmani #BinanceSquare
Mufti Muhammad Taqi Usmani and other scholars recently issued a significant ruling concerning cryptocurrency. The June 10, 2026 ruling stated that, according to the research and expert assessment considered by the scholars, cryptocurrencies and stablecoins such as USDT do not qualify as maal (recognized wealth) under Shariah, and purchases made with them were therefore deemed impermissible.
At the same time, Pakistanโs virtual-asset regulator has emphasized that blockchain, stablecoins, tokenized assets and other digital assets involve different technologies and use cases and deserve separate technical and Shariah examination.
๐ The lesson for Muslims:
Before entering any new financial market, we should put Halal and Haram before profit and loss, seek qualified scholarly guidance, and understand exactly what we are buying, selling and owning.
๐ญ Technology changes quickly, but the principles of Shariah remain a guide for responsible financial conduct.
Do you think future Shariah research should examine different digital assets separately rather than treating all crypto assets as one category?
#Crypto #IslamicFinance #Shariah #Bitcoin #USDT #Blockchain #MuftiTaqiUsmani #BinanceSquare
