According to the SEBI advisory issued on 8 November 2025, which of the following statements most accurately describes the regulatory status of Digital Gold (E-Gold) products offered by various fintech platforms in 2026?

SEBI has explicitly cautioned that digital gold products are neither notified as securities nor regulated as commodity derivatives. Consequently, they operate outside the formal financial regulatory framework, meaning standard investor protection mechanisms and grievance redressal channels provided by SEBI or RBI do not apply to these products.  The regulated products related to gold include: ·        Sovereign gold bonds – regulated by RBI ·        Gold ETFs – regulated by SEBI ·        Gold commodity derivatives – regulated by SEBI ·        Electronic Gold Receipts (EGRs) - regulated by SEBI