Tether's USDT jumps to 8.5% premium in India after crypto payment crackdown

Following a series of raids targeting crypto payment firms in Bengaluru, the local price of Tether's USDT surged to an 8.5% premium over the dollar in India, more than double its usual premium. This disruption in the supply chain for USDT has led to a significant price discrepancy, highlighting the impact of regulatory crackdowns on the crypto market. As local demand for stablecoins remains high, this shift underscores the vulnerabilities exposed in the crypto ecosystem when regulatory actions interfere with payment infrastructure.