IBJA moves to set rules for digital gold firms as SEBI regulation remains uncertain

The India Bullion & Jewellers Association (IBJA) has begun creating a self-regulatory framework for digital gold companies as industry players await clarity on potential oversight from the Securities and Exchange Board of India (SEBI).

Surendra Mehta of IBJA said the association had earlier asked SEBI to bring digital gold under regulation. “We requested SEBI to regulate these digital gold companies,” he said, noting that most players are established firms with strong balance sheets.

The IBJA framework will cover standards and operations across the value chain. “We will set the entire framework for the digital gold companies regarding purity standards, vaulting, how the payment is to be collected, how taxes are to be paid, how auditing is to be done,” Mehta said. IBJA will call a consult