Senior bureaucrat Tuhin Kanta Pandey, finance and income secretary, was appointed because the eleventh chairman of the Securities and Trade Board of India (SEBI) on Friday. Pandey’s appointment comes within the wake of Indian authorities figuring out cryptocurrencies as “crypto belongings” of their newest Finance Invoice and in addition treating any undisclosed crypto belongings as “undisclosed earnings.”
As Finance Secretary and Secretary of the Division of Income, Pandey was instrumental in drafting the Finance Invoice 2025 below the regime of union finance minister Nirmala Sitharaman. Now, 60-year-old Pandey has changed former SEBI chairman Madhabi Puri Buch, to affix helm of affairs as India’s market regulator.
Born in 1965 in Odisha, Pandey accomplished his grasp’s in economics from Panjab College, Chandigarh, adopted by an MBA from the College of Birmingham (UK). Later he joined the coveted Indian administrative companies (IAS)and began working as a collector and district Justice of the Peace of Sambalpur district. He was later additionally deputed to the regional workplace of the United Nations Industrial Growth Group.
Through the latest union funds 2025, finance minister Nirmala Sitharaman launched the Finance Invoice the place cryptocurrencies will probably be outlined as “crypto-asset being a digital illustration of worth that depends on a cryptographically secured distributed ledger or an identical expertise to validate and safe transactions” with impact from April 1, 2026. The invoice additionally had proposals to make it necessary for all Indian residents to report any crypto earnings to the federal government.
Later in a press convention, Pandey defined the most recent tweaks within the Finance Invoice to incorporate cryptocurrencies. As per a report in Business Standard, Pandey stated that India has been a part of a listing of 52 related jurisdictions for the aim of Crypto-Asset Reporting Framework (CARF), making it compulsory to furnish info of crypto belongings.
Additionally Learn: Crypto as ‘Undisclosed Income’ in India’s New Income Tax Bill 2025
