India USDT premium rises above 8.5%, regulatory crackdown leads to supply shortage

Jinse Finance reported on June 29 that, according to Economic Times, due to regulatory crackdowns, the supply of stablecoins like USDT in India is severely short, with premiums rising above 8.5%.
The report pointed out that Indian enforcement agencies had previously taken action against institutions providing crypto foreign exchange services, cutting off remittance channels commonly used by overseas Indians, which in turn affected the supply of USDT in India. Currently, the trading price of USDT in the local Indian market is significantly higher than the international parity level.
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