El diputado indio propone una ley de tokenización: impulsar la construcción del sistema económico en la cadena

【币界】India’s Civilian Party MP Raghav Chadha recently formally proposed a noteworthy bill in the Indian Federal Council—introducing a dedicated “Tokenization Act.” The core goal of this proposal is clear: to establish a comprehensive legal framework that enables blockchain technology to better serve the digital transformation of real-world assets (RWA).

This represents a key shift in India’s policy stance. In the past, the government mainly focused on tax regulation of “speculative” cryptocurrency trading, but now the approach has changed—no longer simply restricting, but building an orderly, regulated on-chain economy that benefits India’s middle class.

Chadha’s bill has several highlights worth noting. First, he emphasizes that asset tokenization is essentially about achieving “financial democratization”—allowing ordinary people to participate in asset investments that were previously high-threshold through fractional ownership models. He even describes it as “one of the most transformative financial technological innovations of the 21st century.”

What exactly does this entail? Chadha suggests establishing a regulatory sandbox, allowing fintech companies to experiment and innovate with tokenized products under the supervision of Indian regulators in a controlled environment. At the same time, by clarifying the legal definition of “tokenized assets,” he aims to eliminate the various ambiguities currently plaguing India’s digital asset market.

He also issued an interesting warning: if India does not hurry to formulate its own legal framework, it could face the risk of sovereignty data and economic power flowing out of the country—India’s assets might be transferred to foreign networks for unregulated trading. This perspective is indeed worth pondering.