Digital gold SRO DPMACI to seek ministry recognition, frame 1:1 metal backing rules
The newly-formed Digital Precious Metals Assurance Council of India will approach the finance or consumer affairs ministry for SRO status. It is drafting a code of conduct, audit norms, and rules mandating 1:1 physical metal backing for members—a move set to reshape how digital gold platforms operate in India.
What happened
The Digital Precious Metals Assurance Council of India (DPMACI), a newly-formed SRO, will seek recognition from the finance or consumer affairs ministry. It is
Key facts
- 1:1 physical metal backing
Why this matters
Platforms lacking full 1:1 metal backing become acquisition targets or partnership seekers as SRO recognition creates a compliance moat that rewards consolidation with audit-ready operators.
Also reported by
- Business Standard · Companies — 41h after first sighting