India has appointed Tuhin Kanta Pandey as the new chairman of the Securities and Exchange Board of India (SEBI), placing him at the helm of the country’s financial markets. His appointment comes at a critical time when the government is actively working on integrating crypto assets into the financial system through new regulations.
Pandey’s Background and Role in Shaping Policy
Pandey, a seasoned bureaucrat and former Finance Secretary, played a crucial role in drafting India’s Finance Bill 2025, which redefined cryptocurrencies as crypto assets under the law. With his experience in the Department of Revenue, he has been instrumental in structuring India’s stance on digital assets, making their regulation a key priority.
His career spans decades in public administration, economics, and financial governance. Born in 1965 in Odisha, he holds a Master’s in Economics from Panjab University and an MBA from the University of Birmingham, UK. Having served in various capacities, including as Collector & District Magistrate in Odisha and later working with the United Nations Industrial Development Organization (UNIDO), Pandey has a deep understanding of economic policy and governance.
A New Era for Crypto Regulation in India?
One of the most significant changes introduced under Pandey’s oversight is the reclassification of cryptocurrencies as crypto assets. According to the Finance Bill 2025, effective April 1, 2026, all Indian citizens will be required to report any crypto holdings or earnings.
Additionally, India has joined 52 other jurisdictions in adopting the Crypto-Asset Reporting Framework (CARF), an international initiative aimed at tracking digital assets across borders. This move is expected to enhance tax transparency and regulatory oversight, aligning India’s crypto policies with global standards.
What to Expect Under Pandey’s Leadership
With Pandey at the helm of SEBI, experts anticipate a stricter regulatory framework for crypto businesses operating in India. Investors and traders may have to comply with more stringent reporting requirements, while the government is likely to increase scrutiny on crypto exchanges and tax compliance.
However, his leadership also raises hopes that India may develop clearer regulations for crypto investments, providing more certainty to businesses and investors. While challenges remain, Pandey’s experience in financial governance could help balance innovation with regulatory safeguards.
As India moves towards a more structured approach to digital assets, all eyes are on SEBI’s next steps in shaping the country’s crypto landscape.
