Government can take a big decision on Digital Gold, SEBI and RBI are making master plan

Digital Gold

New Delhi: Controversy has been going on for a long time regarding the trading of digital gold. Markets regulator SEBI has prohibited the sale of digital gold through brokers in exchanges. SEBI has termed the sale of digital gold as a violation of the Securities Contracts Rules. According to the Securities Contracts (Regulation) Rules, digital gold is not considered a security.

After this decision of SEBI, trading of digital gold from non-banking platforms or wallets is increasing.

The government is now going to take strict steps on the trading of digital gold so that investors’ money is safe. Since digital gold does not come under any regulation, trading in it is not safe in any way. The government is now considering bringing it under regulatory purview.

The finance ministry, Securities and Exchange Board of India (SEBI), and Reserve Bank of India (RBI-RBI) are working to bring digital gold along with cryptocurrencies under some regulatory oversight, as In this type of investment, there is a huge increase in digital gold or cryptocurrency, which is fatal for the market.

The government plans to bring transparency in these trading by bringing them under the regulatory purview and checking false promises of high returns made by companies in these properties to lure investors.

The government plans to amend the SEBI Act and the Securities Contracts Regulation Act to bring digital gold under security norms.

Digital Gold

Let us inform you that Prime Minister Narendra Modi on Saturday held a meeting with other regulators including SEBI to decide a long-term strategy regarding crypto assets. Subsequently, the Standing Committee on Finance held a meeting with the stakeholders to find out their views on the opportunities and challenges associated with crypto.

The trend of investors especially young investors regarding digital gold is increasing rapidly. Because one can invest in digital gold through cashback rewards offered by mobile and online platforms or wallets. Apart from this, you can invest any amount of money in Digital Gold. You can also buy gold for Rs 100-200.