Mufti Muhammad Taqi Usmani, a prominent cleric in Pakistan, has ruled that digital currencies like Bitcoin, Ethereum, and stablecoins are 'haram' or forbidden according to Islamic principles. In a fatwa that holds no legal weight, he argued that these assets rely on extreme speculation and are akin to gambling, rendering them unlawful forms of wealth. This stance stands in opposition to the nation's recent efforts to embrace crypto, which include the establishment of the Pakistan Crypto Council.

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