The Chairman of the Regulatory Authority for Virtual Assets met with Mufti Taqi Usmani, in which he appealed to the scholars to conduct a comprehensive Sharia review of cryptocurrency and technologies.

According to the details, Bilal bin Saqib, Chairman of the Virtual Assets Regulatory Authority, said that he had a constructive and useful meeting with Mufti Taqi Usmani on the ongoing discussion on digital assets and their Sharia status. Wildlife

In a statement released on X, Bilal bin Saqib said that Mufti Taqi Usmani and I agree on one basic goal, and that is to protect the people of Pakistan from fraud, exploitation and financial loss.

Bilal bin Saqib said that in his meeting with Mufti Taqi Usmani, he presented the position that blockchain, digital assets, stablecoins and tokenized assets based on real assets are a wide field of different technologies, so instead of reviewing them from a single angle, it is necessary to carefully analyze their technical nature as well as a comprehensive Sharia review. Wildlife

Bilal bin Saqib added that since this sector is constantly developing, I wish that continuous consultation and dialogue continue between esteemed scholars, relevant regulatory bodies and industry experts, so that Pakistan’s policy can be formulated based on a complete and correct understanding of Islamic principles and emerging modern technologies.