Pakistan's Leading Islamic Scholar Declares Cryptocurrency Trading Impermissible Pakistan's renowned Islamic scholar, Mufti Muhammad Taqi Usmani, has issued a new fatwa stating that cryptocurrency trading is impermissible (haram) under Islamic law. The ruling, released under the supervision of Darul Uloom Karachi, has sparked widespread discussion across the crypto industry and among Muslim investors. According to the fatwa, cryptocurrencies such as Bitcoin ($BTC ), Ethereum ($ETH ), USDT, and other digital tokens do not meet the criteria of "wealth" (Māl) under Islamic jurisprudence. Based on this reasoning, buying, selling, and trading these digital assets has been declared impermissible from the perspective of the ruling.
It is important to note that this is a religious opinion, not a legal ban. The fatwa does not change Pakistan's laws regarding cryptocurrencies. However, given Mufti Taqi Usmani's global influence in Islamic finance, the ruling is expected to shape the investment decisions of many Muslims around the world. The announcement also highlights the ongoing debate among Islamic scholars regarding digital assets. While some scholars consider cryptocurrency trading impermissible because of uncertainty, speculation, and the nature of digital assets, others believe certain cryptocurrencies may be permissible under specific conditions.
For Muslim crypto investors, this development reinforces the importance of seeking guidance from trusted scholars and understanding both the financial and Shariah aspects before making investment decisions.
As cryptocurrency adoption continues to grow globally, discussions on its compatibility with Islamic finance are likely to remain an important topic for years to come.
What are your thoughts? Do you believe cryptocurrencies can become Shariah-compliant in the future? Share your opinion below.
🚨 Federal Reserve Split on Interest Rates: Why Crypto Traders Should Care The latest Federal Reserve meeting minutes reveal policymakers are divided on the next move. Roughly half favor keeping rates unchanged this year, while others believe another rate hike may still be necessary due to persistent inflation.
Why it matters for crypto: 🟢 If rates stay the same or are cut, liquidity could improve, which is generally positive for Bitcoin and altcoins. 🔴 If rates rise again, investors may shift toward safer assets, creating short-term pressure on crypto markets.
The Fed also emphasized that future decisions will depend on incoming economic data, meaning traders should expect continued volatility.
Market Outlook:
$BTC : Bullish above key support, but expect volatility around major economic data. 🎯TP1: 63,100 🎯 TP2: 63,300 🎯 TP3: 63,500 $ETH : Holding strength and could outperform if market sentiment remains positive.
🎯TP1: 1,770 🎯 TP2: 1,780 🎯 TP3: 1,800 $SOL : Continues to show momentum and may benefit if the broader crypto market stays bullish.
🎯 TP1: 80 🎯 TP2: 82 🎯 TP3: 85
📊 Key takeaway: Watch upcoming U.S. inflation (CPI), jobs data, and future Fed speeches. These events are likely to drive the next major move in crypto.
What's your view? 🐂 Rate cuts or no change = Bullish for crypto? 🐻 Another rate hike = Bearish?