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<h1>Digital gold investments lack SEBI regulation, exposing investors to counterparty and operational risks without market protections.</h1> Investments marketed as Digital Gold are not SEBI-regulated securities or commodity derivatives and operate outside SEBI's regulatory framework; unlike exchange-traded commodity contracts, Gold ETFs and Electronic Gold Receipts offered through registered intermediaries, digital gold exposes investors to counterparty and operational risks and does not benefit from securities market investor protection mechanisms.