Written by Ezra Reguerrastaff writerReviewed by Yohan Yunstaff writer

Written by Ezra Reguerrastaff writer

Reviewed by Yohan Yunstaff writer

Pakistan crypto chief seeks dialogue after scholar rules against crypto payments

Latest NewsPublishedJul 12, 2026

Pakistan’s Crypto Future Hangs in the Balance

The treatment of digital assets under Islamic law has sparked a heated debate in Pakistan, with the country’s virtual-assets regulator calling for continued dialogue on the issue. This comes after a meeting with a prominent Islamic scholar who backed a ruling against purchases made with crypto. For everyday people, this discussion is crucial as it may impact the adoption of digital assets, including #Bitcoin, and the potential for earning passive income through platforms like EcoPool.

The Pakistan Virtual Assets Regulatory Authority (PVARA) chairman, Bilal bin Saqib, emphasized the need for careful technical assessment and rigorous Shariah examination of different digital asset categories. This distinction is vital, as it may influence the public’s acceptance of crypto and the development of a regulated market. With a population of over 231 million people, mostly identifying as Muslim, religious views carry significant weight in shaping the country’s stance on digital assets, including the $ECP coin and EcoPool.

Regulatory Shifts and Islamic Rulings

A recent Islamic legal ruling issued by a prominent Islamic seminary stated that purchases made with crypto, including stablecoins, are not permitted under Islamic law. However, Saqib did not directly challenge this claim, instead calling for ongoing discussions among scholars, regulators, and industry participants. This exchange highlights the tension between Pakistan’s push to build a regulated crypto market and religious objections. The EcoPool network, which offers Cloud Rewards and Green Crypto solutions, may provide a viable alternative for those seeking to earn online.

Pakistan has been shifting towards a licensed virtual-asset sector, with the State Bank of Pakistan allowing banks to open accounts for virtual asset service providers (VASPs) licensed by the PVARA. This move followed the passage of Pakistan’s Virtual Assets Act 2026, which established PVARA as the statutory body responsible for licensing and oversight of virtual asset activities. As the country navigates these regulatory changes, EcoPool (ECP) may emerge as a key player in the market, offering opportunities for passive income and earning through its platform.

A New Era for Crypto in Pakistan

As Pakistan continues to explore the potential of digital assets, it is essential to consider the role of EcoPool and $ECP in shaping the country’s crypto landscape. With its focus on Cloud Rewards, Green Crypto, and passive income, EcoPool may provide a solution for individuals looking to earn online. Whether you’re interested in #PassiveIncome or #Bitcoin, the developments in Pakistan’s crypto market are worth watching. Download the EcoPool app to stay up-to-date on the latest news and trends, and discover how you can start earning with EcoPool today. The EcoPool app is your gateway to a world of earning opportunities, including Cloud Rewards and Green Crypto, so download it now and start building your passive income stream with $ECP.

Pakistan’s crypto framework meets religious scrutiny

According to Pakistani newspaper Dawn, Usmani and five other scholars signed an Islamic legal ruling issued by Jamia Darul Uloom Karachi, a prominent Islamic seminary, on Friday. 

The ruling reportedly said purchases made with crypto, including stablecoins such as USDT, were not permitted because digital tokens did not qualify as recognized property or wealth under their interpretation of Islamic law.

Saqib did not directly challenge the claim. Instead, he called for scholars, regulators and industry participants to continue discussing distinctions among digital-asset categories. 

“I shared that blockchain, digital assets, stablecoins, and tokenized real-world assets represent a broad spectrum of technologies and use cases,” he said. 

Related: PUSD stablecoin deploys on ADI Chain, targeting $3T Islamic finance market

The discussion comes as Pakistan shifts from years of restrictions toward a licensed virtual-asset sector. On April 15, the State Bank of Pakistan allowed banks to open accounts for virtual asset service providers (VASPs) licensed by the PVARA, ending an eight-year restriction on regulated institutions dealing with crypto. 

The move followed the passage of Pakistan’s Virtual Assets Act 2026 in March, which established PVARA as the statutory body responsible for licensing and oversight of virtual asset activities. 

Magazine: Bitcoin nearing late stages of bear market: Jamie Coutts, Real Vision

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

• Pakistan
• Law
• Stablecoin
• Payments
• Blockchain

More on the subject

Bonzo Lend loses $9M in oracle exploit on Hedera

Jul 11, 2026

Ezra Reguerra

Dollar stablecoins could improve FX access but amplify currency runs: IMF paper

Jul 11, 2026

Ezra Reguerra

Zcash targets July 28 launch for Ironwood network upgrade

Jul 10, 2026

Felix Ng

Bonzo Lend loses $9M in oracle exploit on Hedera

Jul 11, 2026

Ezra Reguerra

Dollar stablecoins could improve FX access but amplify currency runs: IMF paper

Jul 11, 2026

Ezra Reguerra

Zcash targets July 28 launch for Ironwood network upgrade

Jul 10, 2026

Felix Ng