Waqar Zaka questions Mufti Taqi Usmani’s crypto fatwa, seeks dialogue with crypto experts
- Waqar Zaka released a video responding to Mufti Taqi Usmani’s latest ruling on cryptocurrency.
- He respectfully questioned whether crypto experts were consulted before the fatwa was issued.
- Zaka called for transparency and proposed regular discussions between Islamic scholars and technology experts.
- Mufti Taqi Usmani’s latest ruling states that crypto-based purchases are not permissible under Islamic law.
Pakistani television host and blockchain advocate Waqar Zaka has publicly responded to Mufti Taqi Usmani’s latest ruling declaring crypto-based purchases impermissible under Islamic law, urging greater engagement between religious scholars and cryptocurrency experts before such rulings are issued.
In a video shared on social media on Saturday night, Waqar Zaka clarified that his remarks were made with “complete respect” for Mufti Taqi Usmani and his institution, stressing that his intention was not to criticize the renowned Islamic scholar but to ask what he described as an important question.
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The response came after Mufti Taqi Usmani declared that using cryptocurrencies to purchase goods or services is not permissible under Islamic law, a ruling that has sparked widespread debate among crypto investors and religious circles.
Addressing the ruling, Waqar Zaka questioned whether the institution behind the fatwa had consulted recognized cryptocurrency specialists before reaching its conclusion. He asked the scholars to publicly disclose which crypto experts, blockchain researchers or industry professionals they had consulted during the research process.
Zaka said that despite being recognized by the Government of Pakistan as a crypto expert in 2019, he had never been approached for consultation. He added that several other professionals in the blockchain sector had also told him they were never contacted before the ruling was issued.
He argued that many people seeking religious guidance often ask simplified questions about cryptocurrency, which may not fully explain the complexities of blockchain technology, digital assets, leverage trading, futures trading and funding mechanisms. According to him, distinguishing between different crypto-related activities is important before issuing broad religious opinions.
Waqar Zaka also suggested that if consultations were held with banking officials instead of independent blockchain experts, the names of those consulted should also be disclosed. He claimed traditional financial institutions may naturally resist decentralized financial technologies because of their potential impact on the existing banking system.
Beyond the cryptocurrency debate, Zaka proposed that leading Islamic scholars and technology experts hold regular online discussions to better understand emerging technologies such as artificial intelligence and blockchain. He also encouraged religious leaders to inspire young Muslims to pursue higher education, research, innovation and scholarships at leading international universities, arguing that scientific progress should become a priority for the Muslim world.
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