Pakistani Cleric Declares Cryptocurrency Trading 'Haram', Prompting Investor Sell-Off
Mufti Muhammad Taqi Usmani, a leading Pakistani Islamic scholar, issued a non-binding fatwa declaring cryptocurrency trading, including Bitcoin, Ethereum, and stablecoins, as 'haram' under Islamic law due to concerns over speculation, uncertainty, and lack of intrinsic value. This religious ruling has influenced some Muslim investors in Pakistan, the UAE, and India to sell holdings, causing localized market impacts. Despite the fatwa, Pakistan's government continues efforts to promote and regulate digital assets through initiatives like the Pakistan Crypto Council and PVARA.
First-hand measurement across 6 sources
We measured how 6 outlets covered this story. Coverage leans balanced overall (Left 3%, Centre 95%, Right 2%). Overall sentiment is neutral (44/100). Lens Score 31/100 — low public interest.
Outlets analysed (first-hand measurement by TBN's Bias Engine):
- firstpost— balanced framing, neutral sentiment
- timesnow— balanced framing, neutral sentiment
- indiatvnews— balanced framing, neutral sentiment
- freepressjournal— balanced framing, neutral sentiment
- news18— balanced framing, neutral sentiment
- economictimes— balanced framing, neutral sentiment
AI Analysis
The article group presents perspectives primarily from religious authorities and market analysts, focusing on the fatwa's impact without endorsing any political stance. Coverage includes the cleric's religious reasoning and government initiatives, reflecting both conservative religious views and state efforts to support crypto innovation. The framing remains factual, avoiding partisan interpretations or political criticism.
The overall tone is neutral to cautious, highlighting the fatwa's influence on investor behavior and market reactions without sensationalism. While some articles note sell-offs and setbacks for Pakistan's crypto ambitions, the coverage balances these with explanations of the fatwa's non-binding nature and ongoing government regulatory efforts, resulting in a measured and informative sentiment.