India’s USDT premium tops 8.5% as crypto remittance crackdown squeezes stablecoin supply: report
AI Summary
India's USDT premium has soared to 8.5% due to recent crackdowns on crypto firms in Bengaluru, which have allegedly disrupted the supply of the widely used stablecoin. This surge highlights the impact of regulatory actions on the crypto market, making it more expensive for Indian users to use USDT for transactions. The crackdown suggests a tighter regulatory stance on cryptocurrency activities, which could reshape the market dynamics and influence global crypto remittance trends.
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