India’s USDT premium has climbed to more than 8.5%, more than twice its usual level, after enforcement action against crypto remittance firms has disrupted the domestic supply of the stablecoin.
Summary
- India’s USDT premium climbed above 8.5% after ED raids disrupted the domestic stablecoin supply.
- Authorities alleged crypto payment firms moved more than 2,500 crore rupees through unauthorized cross border transfers using USDT.
- Regulators have continued tightening oversight of India’s crypto market through enforcement, AML checks and tax compliance measures.
According to The Economic Times, Tether’s USDT traded at 102.88 Indian rupees on local crypto…
