India plans digital gold rules by 2027 to protect buyers
Digital gold is getting official rules soon. The Indian government wants to make buying and trading gold online safer by 2027.
The new framework is being put together by the Digital Precious Metals Assurance Council of India (DPMACI), with help from big names like SafeGold, MMTC-PAMP, Augmont, PhonePe, and Gullak.
It's all about protecting buyers and stopping scams in a market that's growing fast.
DPMACI expects regulations next year
DPMACI is working closely with the finance ministry, the Reserve Bank of India, and the consumer affairs ministry to shape the regulations.
As digital gold becomes more popular, with people able to invest starting at just ₹10, these rules aim to keep things fair.
DPMACI chairperson Nirupama Soundarajan said, "Consultations are underway to work out a regulatory framework for digital gold players so that the interests of consumers are protected and fly-by-night operators do not get a chance to dupe them. We are expecting the regulations to come in place next year as digital gold as a product is gaining popularity among the Indians."
India is also looking at how countries like Turkey, Indonesia, and Australia handle digital gold to get this right.