According to The Economic Times, the supply of USDT in the Indian market has suddenly tightened, with the stablecoin premium rising from the usual 3%-4% to over 8.5%. Last Saturday, the local USDT price in India was quoted at 102.88 INR, while the USD/INR closing price in the Indian forex market last Friday was 94.65. The report states that after the Enforcement Directorate (ED) cracked down on the transfer of 250 billion INR through Virtual Digital Assets (VDA), reduced USDT inflows and concerns about further slowdowns have driven up the local stablecoin premium. Purushottam Anand, founder of Crypto Legal, mentioned that Indian exchanges have long traded most VDAs at a premium above global prices, and the recent increase may partly reflect a risk premium arising from regulatory uncertainty. Additionally, the Indian Parliament's Standing Committee on Finance will meet with the Reserve Bank of India (RBI) and the Institute of Chartered Accountants of India (ICAI) on July 2 to discuss the direction of future policies. https://(wublock123.com)/news/india-usdt-supply-tightens-stablecoin-premium-85pct-63642