1. whether there is any regulatory authority to regulate digital gold trading..?
2. whether it's mandatory to get licence to sell or trade digital gold and which authority issues it...?
Respected Sir,
Metals and Minerals Trading Corporation of India-PAMP India Pvt Ltd and Digital Gold India Pvt Ltd are vendors who have partnered with online digital platforms like banks, brokers and financial technological companies to sell gold on their online platforms. For instance when you purchase digital gold from an app such as Patym or Google Pay indirectly you are buying it from MMTC-PAMP India or other vendors and the financial technological company plays the role of an intermediary.
MMTC-PAMP and Digital Gold India appointed IDBI Trusteeship Services Ltd as their trustee. The trustee is given the responsibility to ensure the quality of the gold. The vendors also have the gold held insured against any loss.
