Mufti Taqi Usmani issued a fatwa stating cryptocurrency is not considered wealth under Islamic principles and said buying or trading through crypto, including USDT, is not permissible.
President of Wifaq-ul-Madaris Al-Arabia Pakistan and Darul Uloom Karachi, Mufti Muhammad Taqi Usmani, has issued a religious opinion regarding cryptocurrency.
According to the fatwa, Mufti Taqi Usmani said that based on the research and views of experts available so far, cryptocurrency cannot be regarded as “wealth” and instead represents only numerical entries recorded in digital accounts.
He further stated that purchasing goods or conducting transactions through cryptocurrency is not permissible, regardless of whether it involves stablecoins such as USDT or other forms of crypto tokens.
The authenticity of the ruling was confirmed by Mufti Taqi Usmani’s son, Hassan Usmani, who said the fatwa circulating on social media was issued by his father.
