Indian MP Raghav Chadha Pushes Crypto & Blockchain Reforms

Rajya Sabha MP Raghav Chadha remarked that the Indian government should legalise cryptocurrency in a structured manner. He also emphasised that the government should move all land and property records onto blockchain.

During the Rajya Sabha debate on the Appropriation Bill, Chadha noted that asset tokenisation and blockchain-based land registries could benefit the middle class. He said these measures could help reduce property disputes and unlock large amounts of idle capital. His remarks have reignited discussions around India’s land governance, bitcoin regulation, and broader blockchain adoption.

At the centre of this debate lies a broader question: can blockchain become India’s next foundational digital public infrastructure (DPI)?

• Blockchain Land Records
• Tokenisation Bill Push
• Crypto Legalisation Call
• Global Blockchain Model
• Policy Road Ahead

Blockchain Land Records

One of India's most persistent legal challenges continues to be land disputes. Government estimates suggest that land and property conflicts account for nearly two-thirds of civil court cases. This is largely due to fragmented ownership records and manual verification processes.

To address this, the central government launched the Digital India Land Records Modernization Programme (DILRMP) in 2016. The programme aims to digitise state-level registration systems, cadastral maps, and Records of Rights.

According to the PIB, 68% of cadastral maps and over 94% of Records of Rights have been digitised nationwide. While this represents significant progress, gaps remain in legitimacy, traceability, and interoperability. This is where blockchain comes into the picture.

The Government of India’s National Blockchain Framework formally identifies land records management as a priority proof-of-concept use case, citing benefits such as immutability, tamper resistance, and transparent ownership history.

Chadha’s proposal builds on this official groundwork, advocating a nationwide blockchain ledger so that every land transaction becomes permanently auditable.

At the state level, Assam became the first state to pilot blockchain-based land registration in the Darrang district, integrating blockchain into official registry workflows.

Tokenisation Bill Push

Beyond digitisation, Chadha proposed a transformative idea: a Tokenisation Bill.

Tokenisation enables fractional ownership by converting physical assets such as real estate or buildings into digital tokens. Chadha argued that, much like UPI democratised digital payments, tokenisation could democratise real estate investment.

He stated in the Rajya Sabha that India holds vast wealth locked in illiquid real estate assets. With legal backing, tokenisation could allow ordinary citizens to make small investments in high-value real estate or infrastructure projects, generating liquidity while retaining regulatory oversight.

Asset tokenisation is already listed as a prospective blockchain use case in India’s National Blockchain Framework. However, in the absence of legislation, such initiatives remain limited to regulated pilot projects.

Chadha’s demand is therefore not speculative; it seeks statutory backing for capabilities that the government has already acknowledged.

Crypto Legalisation Call

Alongside land reforms, Chadha called for clarity on cryptocurrency regulation. Under the Finance Act 2022, virtual digital assets in India are subject to a flat 30% income tax and a 1% TDS on each transaction.

Despite this taxation framework, crypto remains unregulated rather than formally legalised in India.

Chadha warned that regulatory uncertainty is pushing Indian Web3 startups overseas while offering little protection to domestic investors. He argued that taxing without providing legal clarity creates a policy gap. He urged Parliament to formally legalise cryptocurrencies, accompanied by safeguards, compliance guidelines, and innovation-friendly incentives.

Legalise Virtual Digital Assets (like Crypto, Stablecoin) in India. Don’t drive them offshore.

India taxes VDAs (virtual digital asset) like they are legal. But regulate it like they are illegal.
India taxes cryptocurrency at 30% Capital Gain Tax + 1% TDS; yet offers no legal… pic.twitter.com/Y1JXJLBW85

— Raghav Chadha (@raghav_chadha) February 10, 2026

Global Blockchain Model

India’s debate reflects global developments. As early as 2019, Sweden’s national land authority successfully tested blockchain-based property transfers. Dubai has launched government-backed real estate tokenisation initiatives under its virtual asset regulatory framework. In emerging economies, the World Bank has repeatedly endorsed blockchain land registries as a tool to reduce corruption and strengthen title security.

Compared to these jurisdictions, India has taken a more cautious approach, prioritising digitisation first, followed by blockchain pilots, with legislation still pending.

Chadha’s intervention seeks to accelerate this trajectory by aligning India’s digital infrastructure with global best practices.

Policy Road Ahead

India is currently at an inflection point. The DILRMP has digitised most land records. Blockchain pilots are underway. Crypto assets are taxed. Policy frameworks acknowledge asset tokenisation. Yet, comprehensive legislation remains absent.

Chadha’s legislative appeal attempts to unify these fragmented initiatives into a single reform agenda encompassing clear crypto regulation, a tokenisation bill, and blockchain-based land registries.

The economic cost of delay is rising, with property disputes clogging courts, real estate wealth locked in illiquid assets, and blockchain talent migrating abroad. Whether these proposals translate into law will determine whether blockchain becomes India’s next transformative digital public infrastructure or remains a limited experiment.

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