Airtel Chairman Sunil Mittal Calls for Government Action
Airtel’s Founder and Chairman, Sunil Mittal, has called for the Indian government to establish regulations for the rapidly evolving sectors of cryptocurrency and artificial intelligence (AI). Speaking at the Confederation of Indian Industry’s Annual Business Summit 2025, Mittal highlighted the urgent need for a regulatory framework to ensure that India can effectively engage with these technologies. His remarks come in the wake of a Supreme Court observation regarding the lack of regulation in the crypto sector, emphasizing the importance of proactive governance in this area.
Call for Regulatory Framework
During his address, Mittal stressed that the growth of the digital assets sector is accelerating at an “unprecedented pace.” He urged the government to take a more active role in developing regulations that can guide the industry. Mittal pointed out that India must not remain a passive observer of the crypto sector’s evolution. Instead, he believes that a structured regulatory approach is essential for the country to harness the potential of both cryptocurrency and AI effectively. His comments reflect a growing consensus among industry leaders regarding the necessity of clear guidelines to foster innovation while ensuring consumer protection and financial stability.
Supreme Court’s Involvement
Earlier this month, the Supreme Court of India raised concerns about the absence of regulatory measures for cryptocurrencies. Justices Surya Kant and NK Singh called upon the Additional Solicitor General to provide an update on the government’s stance regarding crypto regulations. This judicial inquiry underscores the urgency of the matter and the need for a comprehensive regulatory framework. The court’s involvement highlights the increasing scrutiny of the crypto sector and the importance of establishing a legal framework that can adapt to the rapid changes in technology and market dynamics.
Airtel’s Initiatives in the Crypto Space
Despite the government’s cautious approach towards Web3 technologies, Airtel has taken steps to explore the blockchain sector. In February 2022, the telecommunications giant acquired a strategic stake in Aqilliz, a Singapore-based Blockchain as a Service (BaaS) company. This move is part of Airtel’s broader strategy to enhance its digital ecosystem through innovative technologies. The company plans to leverage Aqilliz’s patented hybrid blockchain platform, Atom, to improve its services. Additionally, Kavin Mittal, Sunil Mittal’s son, has expressed interest in exploring the metaverse sector, indicating Airtel’s commitment to staying at the forefront of technological advancements.
Current Taxation and Future Regulations
In India, earnings from cryptocurrencies have been subject to a 30 percent tax since 2022, along with a one percent Tax Deducted at Source (TDS) on all transactions. Furthermore, all crypto firms are required to comply with anti-money laundering and Know Your Customer (KYC) regulations, necessitating registration with the Financial Intelligence Unit (FIU) to operate legally. While Finance Minister Nirmala Sitharaman has stated that cryptocurrencies cannot be classified as currency, an upcoming discussion paper from the finance ministry is expected to provide further clarity on India’s regulatory stance toward virtual assets. This anticipated guidance could play a crucial role in shaping the future of cryptocurrency and AI in the country.
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