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  Business   Market  26 Aug 2021  Brokers can’t sell digital gold, NSE says

Brokers can’t sell digital gold, NSE says

FINANCIAL CHRONICLE | FC BUREAU
Published : Aug 26, 2021, 11:44 am IST
Updated : Aug 26, 2021, 11:44 am IST

The direction came after the Sebi said certain members are providing a platform to their clients for buying and selling digital gold

The SCRR rules restrict all members from engaging, either as principal or employee, in any business. (File Photo)
 The SCRR rules restrict all members from engaging, either as principal or employee, in any business. (File Photo)

New Delhi: The NSE has directed its members, including stockbrokers, to discontinue sale of digital gold on their platforms by September 10.

The direction came after the Sebi said certain members are providing a  platform to their clients for buying and selling digital gold. This, the markets regulator said, is in contravention of the Securities Contracts (Regulation) Rules, 1957, and the members should refrain from undertaking any such activities.

 

The SCRR rules restrict all members from engaging, either as principal or employee, in any business, other than that of securities or commodity derivatives, except as a broker or agent, not involving any personal financial liability.

Tags: digital gold, nse nifty
Location: India, Delhi, New Delhi