KARACHI, July 10 (Alliance News): Renowned Islamic scholar Mufti Muhammad Taqi Usmani has ruled that purchasing goods through cryptocurrency is not permissible under Islamic law (Shariah), stating that cryptocurrencies do not qualify as wealth (maal) under Shariah principles.
According to the fatwa, issued in response to a religious query, cryptocurrency, including USDT (Tether) and other digital tokens, is regarded as a record of notional numbers rather than recognised wealth under Islamic jurisprudence. The ruling was based on the opinions of experts consulted on the issue.
The fatwa states that transactions carried out through cryptocurrency are not considered valid under Shariah and advises Muslims to avoid using digital currencies for buying or selling goods.
Mufti Taqi Usmani’s son, Hassan Usmani, confirmed that the fatwa circulating on social media is authentic.
The ruling was issued after a person sought guidance on whether purchasing two books through cryptocurrency and USDT was permissible. The question also included the purchase of an educational course from an unauthorised seller who had copied and resold digital content without the permission of its original owner.
The fatwa advised the questioner to return the books purchased through cryptocurrency, stating that the transaction was not permissible under Shariah.
Regarding the educational course, the fatwa said its purchase was also impermissible because it violated the rights of the original owner. It instructed the questioner not to benefit from the course and to permanently delete the digital material.
