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Islamic scholars issue fatwa banning cryptocurrency transactions
Photo: dawn.com
2026-07-10 15:24   Religion   10

Islamic scholars issue fatwa banning cryptocurrency transactions

Renowned Islamic scholar Mufti Taqi Usmani, along with five other scholars, has issued a fatwa declaring purchases using cryptocurrency impermissible under Islamic law.The ruling, issued by Darul Ifta, Jamia Darul Uloom, Karachi, states that cryptocurrency is not considered 'maal' (wealth) in Sharia.Instead, it is viewed as mere digital records of fictitious numbers.The fatwa prohibits using cryptocurrency to buy goods or educational courses, stating such transactions do not transfer ownership.It mandates returning purchased items to the seller and deleting digital course materials.The scholars cited religious jurisprudence to support their stance, emphasizing that cryptocurrency lacks the attributes of traditional wealth.This ruling highlights growing concerns about the legality of digital assets in Islamic finance.

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