In late June 2026, at the direction of Shaykh al-Islam Mufti Taqi Uthmani (Ḥafiẓahullah), I was invited by the esteemed Darul Iftaa Committee of Darul Uloom Karachi to present my research on the Sharīʿah classification and treatment of digital assets. The presentation was delivered to a gathering of senior Muftis and scholars, with particular focus on the proprietary nature of digital assets, their relationship to the classical concepts of māl and ḥuqūq, and the contemporary application of established fiqh principles. This paper provides an overview of the principal arguments and conclusions presented during that scholarly session.
Mufti Abdullah Uthmani, the grandson of Shaykh Mufti Taqi Uthmani, writes:
This fatwa (the latest fatwa of Darul Uloom Karachi on USDT being prohibited) was initially issued in early June, and similar fatawa have also been issued on this subject in the past.
“Following the issuance of the most recent fatwa, we have been organizing a series of scholarly webinars and expert discussions to further strengthen and refine our research. As part of this initiative, we recently invited Mufti Faraz Adam to deliver a detailed presentation of his research before the members of Darul Ifta, Jamia Darul Uloom Karachi. His valuable insights and rigorous scholarly analysis have made a significant contribution to the ongoing research process. We have invited other experts too before issuing this fatwa to present their research infront of Darul Ifta.
At present, the researchers at Darul Ifta are undertaking an extensive and comprehensive review of the evidences (dalāʾil) presented by scholars and experts representing different perspectives. This research is being conducted through detailed textual analysis, scholarly deliberation, and a thorough examination of the relevant proofs. We are also in ongoing communication with the Pakistan Virtual Assets Regulatory Authority (PVARA) regarding this matter. It is an encouraging development that the relevant government authorities and the Ministry are actively engaging with scholars and Darul Iftas and recognizing the importance of their scholarly input in addressing this issue. Our objective is to ensure that any conclusion ultimately reached is founded upon balanced, objective, and meticulous academic research, In shāʾ Allāh.
May Allah Almighty guide us all to the truth, grant us sincerity in seeking it, and bless us with the ability to follow the path that is most pleasing to Him. Aameen”