Sebi warns investment advisers dealing in digital gold

Market regulator Sebi on Thursday warned investment advisers that deal in digital gold and the other unregulated financial products.

“It has come to the notice of Sebi that some registered investment advisers are engaged in unregulated activity by providing a platform for dealing in unregulated products including digital gold… Investment Advisers are, hereby, advised to refrain from undertaking such unregulated activities,” the market watchdog said in a release.

Earlier, stock exchanges had directed stock brokers to discontinue the sale of digital gold on their platforms by September 10.