OurBuzz
IIJS Premiere 2022 Inauguration Ceremony, Press Conference
The inauguration ceremony press conference began with honoured guest, Smt. Hema Malini – Member of Parliament, Lok Sabha lighting the lamp. Along with her were Colin Shah, Chairman – GJEPC and Vipul Shah, Vice Chairman – GJEPC. Shailesh Sangani, Convener – GJEPC, and Mansukh Kothari, Co-Convener – GJEPC.
Many prominent dignitaries from the industry were present at the event.
BrandBuzz
Government Signals Move to Regulate India’s Fast-Growing Digital Gold Sector
Fintech companies push for clarity as policymakers explore oversight and industry bodies step up to set standards
India’s digital gold market may soon move out of its grey zone, as the government begins to seriously consider a formal regulatory framework for the sector. With rapid growth over the past year and a half, fintech founders have been in active discussions with the finance ministry, urging the need for clear rules and oversight.
At a recent meeting between startup leaders and senior officials, industry representatives highlighted how quickly digital gold has scaled—and why regulation is now essential. The response from policymakers, according to those present, has been encouraging, though any concrete framework could still take time. A key question remains: who will regulate the sector—the Reserve Bank of India (RBI) or the Securities and Exchange Board of India (SEBI).
Currently, digital gold operates without a dedicated legal structure. This has raised concerns among both industry players and regulators, especially as investor participation continues to grow. Leaders in the space believe a clear framework will not only protect consumers but also lend credibility to the category.
To address this, major digital gold market players are working towards forming an industry body—the Digital Precious Metal Council of India. The goal is to introduce uniform standards, ensure fair practices, and engage more effectively with policymakers.
The scale of the sector is already significant. Industry estimates suggest that nearly Rs. 3,000 crore flows into digital gold every month, with total assets under management ranging between Rs.15,000 crore and Rs. 20,000 crore, backed by physical gold stored in secure vaults.
Regulators have also started taking note. SEBI recently cautioned investors that digital gold products fall outside its regulatory scope, meaning they do not come with the same investor protection mechanisms as other gold-linked financial instruments.
As conversations continue, the industry is focused on building trust—highlighting audit systems, physical gold backing, and transparency. While self-regulation may be the first step, most stakeholders agree that formal oversight is inevitable as the sector matures.
News Source: ET Retail
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Government Signals Move to Regulate India’s Fast-Growing Digital Gold Sector
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