Religious ruling bills crypto-based purchases impermissible, causes frenzy
A religious ruling has declared the use of cryptocurrencies as a medium of exhange as impermissible, disqualifying the digital currency as wealth.
The religious directive, more commonly known as fatwa, was issued by Karachi-based Darul Ifta, Jama Darul Uloom and dated June 10, 2026.
“According to research and opinion of experts so far, cryptocurrency is not considered ‘maal’ (wealth) in Sharia. Instead, it is merely the recording of fictitious numbers in an account, whether in the form of USDT (Tether stablecoin) or other crypto tokens,” the fatwa stated.
Continue reading
Free, in under 30 seconds
Join thousands of professionals reading Salaam Gateway — the Global Islamic Economy Gateway.
Joined by 12,000+ Islamic economy professionals
Create a free account
Already a member? Sign in
- 5 free articles every month
- Weekly Islamic-economy newsletter
- Save articles to read later
Salaam Gateway