Prominent Islamic scholar Mufti Muhammad Taqi Usmani has issued a fresh fatwa declaring cryptocurrency trading impermissible under Islamic law.

The ruling, issued in June 2026 and circulated by scholars associated with Darul Uloom Karachi, applies to cryptocurrencies, blockchain-based tokens, and stablecoins, including USDT.

According to the fatwa, digital assets do not qualify as wealth or property under the Islamic legal framework. Because of this, buying, selling, or trading such assets is considered impermissible.

The ruling states that terms such as cryptocurrency, virtual currency, token, and stablecoin all describe the same category of digital assets, and changing the name does not alter the religious ruling.

As a result, the fatwa extends beyond major cryptocurrencies such as Bitcoin and Ethereum to include a broader range of blockchain-based tokens and stablecoins.

The fatwa was issued under the supervision of Darul Uloom Karachi and carries endorsements from several religious scholars, according to documents shared with the announcement.

While the ruling is a religious opinion and not a government regulation, it is expected to influence the views of many Muslims in Pakistan regarding cryptocurrency trading and investment.