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Supply crunch lifts stablecoin premium above 8.5% in India
India is facing a significant shortage of stablecoins like USDT, causing its price to surge locally. This premium, usually modest, has ballooned to over 8.5% following Enforcement Directorate actions against entities facilitating crypto-based money transfers. The crackdown has disrupted a popular remittance channel for NRIs, impacting USDT supply and raising concerns about regulatory ambiguity and the urgent need for clear crypto policies.
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economictimes.indiatimes.com
Supply crunch lifts stablecoin premium above 8.5% in India
India is facing a significant shortage of stablecoins like USDT, causing its price to surge locally. This premium, usually modest, has ballooned to over 8.5% following Enforcement…
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theblock.co
India's USDT premium tops 8.5% as crypto remittance crackdown squeezes stablecoin supply: report
India's USDT premium topped 8.5% after Enforcement Directorate raids on Bengaluru crypto firms reportedly disrupted stablecoin supply.
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cryptobriefing.com
India's USDT supply tightens as local stablecoin premium surges past 8.5% amid regulatory crackdown
India's USDT premium surges past 8.5% as Enforcement Directorate raids choke stablecoin supply, disrupting cross-border remittances and raising costs for
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coindesk.com
USD-INR price: USDT jumps to 8.5% premium in India after crypto payment crackdown
Raids on crypto payment firms in Bengaluru disrupted the pipeline that feeds dollar-pegged USDT to Indian platforms, pushing its local price more than 8.5% above the dollar,…
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zerohedge.com
Tether's USDT Jumps To 8.5% Premium In India After Crypto Payment Crackdown
Raids on crypto payment firms in Bengaluru disrupted the pipeline that feeds dollar-pegged USDT to Indian platforms, pushing its local price more than 8.5% above the dollar,…
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news.bitcoin.com
USDT Premium in India Jumps Past 8.5% as Stablecoin Supply Tightens
Tether's USDT premium in India jumped above 8.5%, with the token at INR 102.88 versus a 94.65 dollar rate, as a local stablecoin supply squeeze bites.
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Tether trades at 7% to 10% premium in India. Exchanges say its just supply and demand
Executives at major platforms CoinDCX and CoinSwitch say the premium reflects a demand-supply imbalance and thin local liquidity.