India’s market regulator, SEBI, has issued a public warning on digital gold, urging investors to exercise caution. SEBI said digital gold products are unregulated — they are not securities, not commodity derivatives, and fall outside its jurisdiction. This means investors have no protection if platforms collapse or fail to deliver gold. Digital gold allows small online purchases via apps like Paytm, PhonePe, and Google Pay. In 2024, nearly 10% of India’s gold investments — about ₹13,888 crore — were in digital form, with UPI transactions rising 377% in 16 months. SEBI recommends using regulated gold options like ETFs and electronic receipts.
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