India plans rules to ensure digital gold backed by bullion
Business
Thinking about buying digital gold? The Indian government is working on new rules to make sure every bit of digital gold you buy is actually backed by real, physical gold.
Right now, this $3 billion market runs without much oversight, but RBI and SEBI might team up to keep things transparent and secure.
Digital gold may get 'security' status
The finance ministry wants to officially label digital gold as a "security," which means tighter rules under existing laws.
This move comes after warnings about risks like money laundering and weak investor protection.
Big industry groups are backing the change, saying regulation will help protect buyers and bring more trust to the whole system.