Cryptocurrency prices continued to be stable on Indian exchanges 48-hours after major crash of 15-20 per cent across tokens; though with the exception of Sandbox token. It was the highest gainer yesterday but today it is trading below at 12.29 per cent of its peak price from yesterday.

At 10:57 am on WazirX, Bitcoin’s price had slightly gone up by 0.21 per cent, Shiba Inu’s price increased by 4.2 per cent, Tether was up by 2.45 per cent, Ethereum was up by 6.1 per cent and Basic Attention Token (BAT) jumped by 32.6 per cent.

Also read: Only a handful of cryptocurrencies that exist today likely to survive: Raghuram Rajan

Clearing some of the air around uncertainty and confusion on the draft Crypto bill, Finance Secretary TV Somanathan on Thursday in an interview with CNBC-TV18 said that people had just overreacted to the development of the crypto bill which will be tabled in the parliament’s winter session.

“However, one thing I can say very clearly is that crypto will not be legal tender by any means. Gold is not a legal tender, silver is not a legal tender and alcohol is also not a legal tender, beyond that I will not be in a position to say anything more,” he said.