A video of senior Pakistani Islamic scholar Mufti Muneeb-ur-Rehman has resurfaced online in which he says cryptocurrency has not yet been given Shariah clearance, while also discussing concerns surrounding certain forms of gold trading.

Responding to a question on Islamic investments, Mufti Muneeb said Muslims should invest only in businesses that are free from prohibited activities such as alcohol, pork, narcotics and other impermissible trades. He noted that because modern financial markets are complex, scholars apply Shariah screening criteria to identify investments that are broadly compliant with Islamic principles.

The discussion then shifted to gold trading, particularly whether the gold being traded actually exists and can be delivered. Referring to that issue, Mufti Muneeb remarked, “Cryptocurrency has also not yet been cleared by us.”

His comments indicate that, at the time of the recording, he had not issued a definitive Shariah approval for cryptocurrency, instead leaving the matter open pending further scholarly consideration.

The resurfaced video has attracted attention after Mufti Muhammad Taqi Usmani recently issued a detailed fatwa declaring cryptocurrency trading and the use of crypto assets for purchases impermissible under Islamic law in their current form. The fatwa argues that cryptocurrencies, crypto tokens and stablecoins do not qualify as maal (wealth) under Shariah and therefore cannot be traded or used as a medium of exchange.

Following the ruling, Pakistan Virtual Assets Regulatory Authority (PVARA) Chairman Bilal Bin Saqib met Mufti Taqi Usmani to discuss the future of digital assets in Pakistan. After the meeting, Bilal said blockchain-based assets should not be assessed under a single framework, arguing that stablecoins, tokenized real-world assets and other digital asset categories deserve separate technical and Shariah evaluations rather than a blanket ruling.

Mufti Muneeb’s resurfaced remarks have added another perspective to Pakistan’s ongoing debate over digital assets, as religious scholars and regulators continue discussions on how emerging blockchain technologies should be viewed under Islamic law.