Indian crypto investors have been concerned as a result of the recent comments by India’s Finance Minister, Sitaraman. As a result, the bitcoin price has recently plummeted. According to Sitaraman, the government will begin to regulate private cryptos, using El Salvador as an example, as India would never accept any attempts to recognise Bitcoin as a currency!
In the midst of all of this, a popular entirely decentralised coin called as Mode coin has emerged on the market. As a result, crypto experts are pointing to this coin as an exception to all of the above-mentioned Indian banknotes.
All private cryptos are in the red zone, according to the proposed rule, whereas all public domain decentralised currencies, such as Mode coin, will remain completely safe to trade.