India’s USDT premium tops 8.5% as crypto remittance crackdown squeezes stablecoin supply: report
The Block·
60-second summary
India's USDT premium surges to 8.5% as Enforcement Directorate raids on Bengaluru crypto firms disrupt stablecoin supply, reportedly squeezing available USDT in the country. This premium reflects the increased demand for USDT amidst a crypto remittance crackdown, which is limiting the stablecoin's availability and driving up its value in the Indian market.
India's USDT premium topped 8.5% after Enforcement Directorate raids on Bengaluru crypto firms reportedly disrupted stablecoin supply.