Vide Circular dated 10 January 2022, SEBI has issued framework for operationalization of the proposed Gold Exchange. This framework was approved by the Board in its meeting held on 21st September 2021 along with the SEBI (Vault Managers) Regulations.
For this, vide notification dated December 24, 2021, GOI has declared “electronic gold receipts” as ‘securities’ under the Securities Contracts (Regulation) Act 1956 and also notified SEBI (Vault Managers) Regulations, paving the way for ‘operationalizing’ of Gold Exchange.
The stock exchanges desirous of trading in electronic gold receipts (EGRs) may apply to SEBI for approval of trading of EGRs in new segment.
The Circular shall come into force with an immediate effect.
#sebi #goldexchange #india