SEBI’s 2025-26 annual report lays out a formal strategy to prepare India’s securities market for quantum-computing risks to financial cryptography, while reaffirming a corporate bond tokenization pilot as a forward priority. The Securities and Exchange Board of India directed regulated entities to maintain a comprehensive cryptographic asset inventory, assess post-quantum cryptography (PQC) and quantum key distribution, improve cryptographic agility, monitor the ecosystem continuously, and build transition roadmaps with workforce upskilling. The regulator said its own migration follows a three-phase “discover, observe, and transform” approach aligned with India’s National Quantum Mission. The report also disclosed that SEBI has been appointed Vice-Chair of IOSCO’s Quantum Computing Working Group and is a member of its Tokenisation Working Group, giving it a role in international discussions on quantum preparedness and tokenized financial assets. For digital-asset markets, the significance is indirect but notable because quantum computing could threaten the cryptography used for digital signatures and secure transactions across financial and blockchain networks. On tokenization, SEBI listed a pilot for corporate bond tokenization using distributed ledger technology (DLT) among its priorities for 2026-27, but gave no updated timeline, scale, or participating entities. The report does not signal any change in SEBI’s stance on cryptocurrencies, which remain outside its mandate.