Madhabi Puri Buch, the chairperson of India's Securities and Exchange Board, has emphasized the need for instant settlements to compete with cryptocurrencies. Buch warned that if traditional markets fail to offer tokenization and instantaneous settlement, investors are likely to move to crypto. India plans to introduce a same-day settlement cycle from March 28 on an optional basis, making it the second country after China to do so. Buch also announced plans to introduce faster settlements, effective from March 2025, pending approval from the market regulator's board.