Fintech Firms Establish Self-Regulatory Body for Digital Precious Metals in India
Fintech firms form SRO to boost trust in digital precious metals market
Business Standard
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In response to regulatory uncertainty, fintech companies in India have created the Digital Precious Metals Assurance Council of India (DPMACI) to enhance governance and transparency in the digital gold and silver market. This self-regulatory organization aims to protect consumers and improve trust in the sector.
- 01Fintech firms have launched the Digital Precious Metals Assurance Council of India (DPMACI).
- 02The initiative aims to enhance governance and transparency in the digital precious metals market.
- 03The formation of DPMACI comes amid regulatory uncertainty in the digital gold sector.
- 04Consumer protection is a primary focus of this self-regulatory organization.
- 05The move is expected to boost trust among consumers in digital gold and silver platforms.
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In light of ongoing regulatory uncertainty in the digital gold and silver markets, fintech companies in India have established the Digital Precious Metals Assurance Council of India (DPMACI). This self-regulatory organization aims to enhance governance and transparency among digital precious metals platforms. By focusing on consumer protection and improved regulatory compliance, DPMACI seeks to build trust within the sector. The initiative reflects a proactive approach by the fintech ecosystem to address challenges and foster a secure environment for consumers engaging in digital precious metals transactions.
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The establishment of DPMACI is expected to increase consumer confidence in digital gold and silver investments, potentially leading to higher participation in the market.
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