India’s anti-Bitcoin (available on Coinbase) sentiments have caused a crypto-wide panic to spread around the world. The country’s finance minister Arun Jaitley announced during the budget speech today that cryptocurrency was not considered legal tender in India.

When the news broke, people immediately began blowing his words out of proportion. Jaitley stated that the Indian government “will take all measures to eliminate the use of these cryptoassets in financing illegitimate activities or as part of the payments system.”