Citing India’s position at the top of global crypto adoption rankings, Subburaj argued that millions of Indians, especially younger, first-time investors, are engaging with crypto as a natural extension of their digital financial lives.
With the Union Budget 2026 just days away, crypto exchange Giottus.com CEO Vikram Subburaj has called for a regulatory reset that recognises the widespread use of crypto assets in India rather than resisting it.
Drawing parallels with gold and equity markets, Subburaj said crypto has followed a familiar trajectory, from scepticism to mass participation and now urgently needs a clear regulatory framework. He noted that the tax regime introduced in Budget 2022, including the 30% tax on virtual digital assets, was an implicit acknowledgment of crypto as part of the formal economy, not a fringe activity.
Citing India’s position at the top of global crypto adoption rankings, Subburaj argued that millions of Indians, especially younger, first-time investors, are engaging with crypto as a natural extension of their digital financial lives. The key policy question for Budget 2026, he said, is whether India will shape this activity domestically or push it towards offshore and informal platforms with weaker oversight.
Among his key expectations, Subburaj called for a single nodal regulator for crypto assets, rationalisation of transaction-level taxation to improve liquidity while retaining traceability, and regulatory support for compliant blockchain innovation through sandboxes and clear approvals.
“India has little to gain by waiting on the sidelines of technological change,” he said, urging policymakers to “regulate, formalise and let innovation work within the rules.”