POPA ReconIndia’s USDT Supply Tightens as Stablecoin Premium Rises Above 8.5%
India’s USDT Supply Tightens as Stablecoin Premium Rises Above 8.5% According to The Economic Times, USDT supply in India has suddenly tightened, pushing the local stablecoin premium from the usual 3%–4% to over 8.5%. On Saturday, USDT was quoted at INR 102.88, compared with the USD/INR closing rate of 94.65 on Friday. The report said reduced USDT inflows and concerns over further slowdown followed an Enforcement Directorate crackdown on INR 250 billion in money transfers through virtual digital assets. Crypto Legal founder Purushottam Anand said the recent rise may partly reflect a risk pre…
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