Digital gold, the glitzy fintech version of India’s oldest obsession, has become a massive hit among new-age investors. With just Rs 100, anyone can buy gold from an app, track prices in real time, and redeem it later as coins or bars. But now, the market's regulator Sebi wants everyone to slow down .

Last week, the regulator issued a public caution warning investors against buying “Digital Gold” or “E-Gold” products offered by online platforms. Sebi said these products are not regulated, not classified as securities or commodity derivatives, and therefore operate completely outside its jurisdiction.

That’s bureaucratic language for something simple: if a digital gold platform collapses tomorrow, your money may be gone, and you’ll have no legal protection under Sebi’s investor safety f

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