SEBI Chairman Tuhin Kanta Pandey warns at Global Fintech Fest that quantum computing could break current cryptography, urging urgent development of quantum-resistant security to protect India’s financial sector and safeguard investors.
Mumbai (Maharashtra) [India], October 8 (ANI): Tuhin Kanta Pandey, Chairman of the Securities and Exchange Board of India (SEBI), on Wednesday highlighted the potential threats posed by quantum computing to current digital security systems.
Pandey Stresses Need for Quantum-Resistant Cryptography
“…Wherever in the financial sector or somewhere else, Cryptography is our standard used key for passwords, we need to prepare for it and work for cryptography-proof passwords, as after the introduction of Quantum computing, Cryptography will break,” Pandey said, speaking to reporters on the sidelines of the ongoing Global Fintech Fest 2025 (GFF) in Mumbai.
Understanding Cryptography and Quantum Computing
Cryptography is a technique of securing information and communications using codes to ensure confidentiality, integrity, and authentication, preventing unauthorized access to information. Quantum computing, on the other hand, uses principles of quantum mechanics to solve complex problems far beyond classical computers, leveraging qubits, superposition, and entanglement for massively parallel processing.
Quantum Computing’s Potential Across Sectors
This advanced computation enables quantum computers to tackle problems in medicine, AI, financial modeling, and cryptography that are intractable for today’s supercomputers.
Pandey Highlights Technology’s Role in Indian Securities Market
Earlier, delivering the keynote address titled “Resilient and Inclusive Capital Markets in a Tech-Driven World” at GFF 2025, Pandey said that every aspect of the Indian securities market—from account openings and settlements to investor grievance redressal and market supervision—has been redefined by technology.
SEBI’s Core Priorities: Protection, Development, Regulation
“Today, the Indian securities market is being shaped by reforms and an ecosystem that is vibrant, resilient and inclusive. Technology is at the core of every step,” Pandey said. Outlining SEBI’s three core priorities—investor protection, market development, and effective regulation—he emphasized that technology has become central to all of them.
Collaboration Strengthens Market Resilience
Whether it is investor onboarding, payment safeguards, or risk management, innovation has made the market faster, simpler, and safer. Pandey noted that SEBI’s close coordination with depositories, exchanges, and technology partners has strengthened investor confidence and market resilience.
Balancing Growth with Safety in India’s Markets
As India’s markets continue to grow, Pandey said the focus should remain on balancing speed with safety. “The question is not only how fast we grow, but how safely,” he said. “Let us continue to harness technology to build thoughtfully, collaboratively, and with an unwavering focus on trust, a capital market that truly embodies a resilient and inclusive India.”
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