According to The Economic Times, the supply of USDT in the Indian market suddenly tightened, with the stablecoin premium rising from the usual 3% to 4% to over 8.5%. On Saturday, local USDT was quoted at 102.88 rupees, while the dollar-to-rupee closing price on Friday in the Indian foreign exchange market was 94.65. The report states that after the Indian Enforcement Directorate (ED) cracked down on a 250 billion rupee transfer of funds through virtual digital assets (VDA), the reduction in USDT inflows and concerns about further slowdown have pushed up local stablecoin premiums. Purushottam Anand, founder of Crypto Legal, said that Indian exchanges have long traded most VDAs at premiums higher than global prices, and the recent increase may partly reflect a risk premium formed under regulatory uncertainty. Additionally, the Parliamentary Standing Committee on Finance of India will meet with the Reserve Bank of India (RBI) and the Institute of Chartered Accountants of India (ICAI) on July 2 to discuss subsequent policy directions.