After meeting with Pakistan’s virtual asset regulator chief Bilal bin Saqib and Islamic scholar Mufti Taqi Usmani, Saqib said that stablecoins, tokenized real-world assets, and other blockchain products should each be assessed separately for technical and Islamic Sharia compliance, and should not be treated as the same category. Previously, Usmani and other scholars issued a Sharia ruling that found USDT and other cryptocurrencies are not wealth recognized under Islamic law, making transactions to buy physical goods or digital services invalid. Saqib did not indicate that Usmani has changed his position. Pakistan passed the Virtual Assets Act in March this year, requiring exchanges, custodians, and token issuers to ensure their operations comply with Sharia under the guidance of the Islamic Finance Scholars Committee. The country is also advancing a sovereign stablecoin, national asset tokenization, and licensing for crypto exchanges. (The Block)