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Today in crypto, Pakistan’s virtual-assets regulator called for continued dialogue on the treatment of digital assets after meeting an Islamic scholar who backed a ruling against purchases made with crypto. Bitcoiners Michael Saylor and Adam Back criticize the BIP-110 proposal seeking to stamp out non-monetary Bitcoin transactions, while DeFi protocol Bonzo Lend lost about $9 million after an attacker manipulated the price of SAUCE through a flaw in Supra’s oracle verifier on Hedera.
Pakistan Virtual Assets Regulatory Authority (PVARA) chairman Bilal bin Saqib has called for continued dialogue on the treatment of digital assets under Islamic law after meeting prominent scholar Mufti Taqi Usmani, who backed a ruling against purchases made with crypto.
In a Saturday post, Saqib said the discussion covered blockchain technology, digital assets, stablecoins and tokenized real-world assets (RWAs), as well as the need to protect Pakistanis from fraud, exploitation and financial harm.
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